I assume by this: "foreclosure estimates was about 60,000" you mean the house is worth $60K.

One of the properties I ran cashflows on seems initially attractive -- 12.6% cap rate (and 28.9% CCR assuming 75 LTV / 30yr fixed rate loan / 6.0% interest, 50% expense ratio, and assumed rent 12% below rentometer.com's median rent for the area in which the fourplex is located (monthly assumed rent is 2.11% of purchase price)).Though my projected return ratios are attractive (12.6% and 28.9%) on this property, I'm not sure if the magnitude of the return is large enough.

As a starting point for screening absentee owners, I suggest these parameters:- 40% equity or more- at least 7 years ownership- 3-5 bedrooms (I'm assuming you're looking for SFH)- Not corporate or trustee owned A cool feature from Listsource is the ability to find properties based on geography.

Work that list (assuming you started with a good one), touching them at least 5 times.One of my larger targeted lists is about 2,000, but I also have a small list of 50 out-of-state owners in my area that have 100% equity - I treat that small list a bit differently (send them different postcards/messages) than the larger list.

Assuming you find a buyer for the price you need, that buyer is buying from you and at the same time, you would exercise your purchase option.

I assume that if he did in fact pay them the tax assessors website would have updated it no??

So, I assume it would be 1-2 days for the repairs, sanding, filling, and the first coat.

(for single and multifamily properties)I assume not.If not, then where can we find out the square footage of the garage?

I'm also assuming that any rehabs are included in the $100k for this valuation.Are you guys really finding these deals?

Is that not significant amount compared to (I'm assuming) buy and hold cash flows?