Now my approach is, if I have a unit open, I run the $99 (cheap units) or $199 (SFH) first month rent special.

WAshington Mutual ( now chase ) was agressive with those I think I had a sig loan for 50k and its about 5% right now.I really don't use it but I don't want to give up a 50k unsecured line that is this cheap incase I need it for something.

These buildings had many units for sale that you could purchase real cheap but cash only.

If your goal is to find cheap labor (which it should be) then be prepared to deal with a lot more headaches and excuses.

I hear from those attending that this has driven average returns on tax liens to 6-9%, but that's for financial institutions with scale that can hire cheap labor to visit every site (which is a must to ensure the property is in good shape), go to the local assessor's office and look up all the liens, hold onto the lien for several years, administer the ongoing payments and any foreclosure proceedings, and run pretty sophisticated spreadsheets that estimate whether you're going to get 6% or 8% return, based on economic forecasts, etc.

Looks like all is have to do have the flooring in the utility room (rubber vinyl cheap stuff) relaid and replace the side fence.

For instance "Apartment Owners In Atlanta" or "Cheap Rentals That Cash Flow" group?

However, there are still lots of things to watch out for. 1st, the debt needs to be 1st position,  so that you are not  potentially edged out of being able to collect. 2nd, it needs to be underwritten at a conservative LTV,  so that there is enough equity cushion in case things go wrong. 3rd, it needs to be in a state that allows nonjudicial foreclosure (which is relatively cheap and only last a few months).

If it's going to be some mega casino, then there may be workers for specialized projects that come from out of the area, but most of them would probably stay short term, in hotels or cheap housing.

ANY advice from my fellow Colleagues or BP members would be appreciated.In the end that will not be a cheap way to go.