It has been often suggested here and elsewhere to pursue something that keeps a toe in the water of the working world, as it limits the downside risks, and could turn into a fruitful enterprise for post-retirement.At the request of a friend and BP associate, I've been asked to provide expert opinion and electrical analysis on residential properties that are either on the market, or recently sold through his brokerage, as there are many customers who want a deeper look at their electrical system, deeper than what a typical home inspector will do, but they are not ready to ask a contractor to come out and simply give a blank check to 'fix whatever's wrong' (famous last words).

45 days is pretty typical for a financed offer.

Those were pretty typical market rents for that area.

Going in I knew it was tenant occupied but on a month to month (but paying weekly) and it was a fast close and typically I deal with any inherited tenant situation while still in escrow and have some kind of contingency/agreement in place for that but I bought through a wholesaler this time and it was basically a no contingency deal.

For your language then, for scripts - We typically get you cashed out either way and many of ours are appraising significantly higher but what's the worst case - you and I come back and renegotiate. 

Typically when I hear about other investors speaking with motivated sellers its in regards to wanting to get out of the home BEFORE the foreclosure process happens.

But, unless I'm mistaken, you typically buy for cash right there at the auction without a title search involved, although this may depend on location. 

Expenses on a rental property typically run 40% to 60% over the long run and that does not include your debt service.

I have not, but many localities have programs for residents if your income is low enough, typically I would expect that this would only apply to a primary residence. 

The selling agent made a big speech when I met her last week about how people who rent rooms typically don't have much money (no kidding).