That is what I remember from speaking with a representative about 8 months ago but I would investigate further to be sure.

If you want to be a step ahead of development, you might want to consider investigating San Antonio, for the reasons stated.

You might think of hiring a private investigator .

If that's where you got it from, I think he was mentioning that he runs an "educational seminar" on how to do this (with heavy emphasis on the quotes).It's always possible that I'm missing an unbelievable opportunity, but think it through:1) Why would a seller not investigate how much their land is worth, and and let you lock it up for 15 cents on the dollar?

Thanks for all of your thoughts.I will investigate further with HUD.

With two tenants a 10% vacancy is very easy to achieve, so you need to investigate the leases.- Where is it?

Bought $200 of the best books recommended by the guests on the podcasts, signed up here, and have gone to the couple REIAs in my area.Right now I am trying to connect with local players and to get a job/internship with them over the summer—whether it is paid or unpaid I do not care.But to go back to your original skepticism about the RE classes taught in High School, I think it is only right to investigate more before we make assumptions.

More likely than not newbies won't get enough due diligence data to investigate those sums to ensure they will be included in the judgement of foreclosure.  

Maybe you can investigate it further to see if there's a study out there.  

Investigate actual market growth for your asset and see if the numbers jive.