Hey guys, wanted some second thoughts on this.My direct mail produced a call from a woman wanting to sell an absentee property of hers.

The IRS generally wants businesses who are producing inventory (flipping is producing inventory and holding that inventory for sale through the ordinary course of your business) to use the accrual method of accounting.

At that point we bowed out of the program.When the tenants moved out (with no written notice of course..and no rent for that month) they claimed no damages,  ignoring the 24 bags of garbage, the three broken appliances, the broken furniture and the unplugged but still half filled chest freezer (gag) of food they left behind (poor people tend to save EVERYTHING even broken stuff).The irony of these poor folks with their adult daughters who appeared to produce children with anyone they dated and no one seemed to question six grand children with six different last names is that mom and dad were supposedly very active in their church. 

Other factors play into this of course, but when I can buy something for $4,000 that will produce a $200 month cash flow for me, basically for the next 20-30 years, I will buy that every time.

They have a web site with the guide lines.  

Buy the featured listing package on realtor.com and take 36 pictures of every listing and do a virtual tour so they come up first on every web site.  

As mentioned above, you could look at the financing (or even ways to increase cash flow like raising rents or self management).But the sf in some markets just lacks the economy of scale to produce strong positive cash flow of, say, a duplex, triplex or fourplex (try those numbers in your area)... 

The one house I am thinking of right now is the one I completely rewired and took the spider web of old knob and tube OUT of the attic.Good access either by inside closet hatch on a 9 foot ceiling,,,ALL the rest of the house the ceilings were lowered to 8 foot with new framework and new drywall 20 years ago. 

No opening bid listed and get this , no reserve at all on written listed on Hudson and Marshell web site for that home and bam went to bid immediately as auction started online, starting bid was 12,500 and had to go up 1,000 per bid and them Hudson & Marshall did Ghost bids till it went to 37,000 my top bid . and later I read that "reserve the right to raise the bids till it at least they hit the reserve price that Wells Fargo had set.

Are there any web sites or forums specialised for this?