I am shocked at the $200 utility bill for 6plex.

Not sure if they are still there.Anyway, just call a firm over there and get a proposal to do a basic site plan with a preliminary cost estimate.

I'm sure this won't come as a shock to experienced RE investors but - not everyone trying to sell you a deal is completely honest.

I think this is a good lesson as to why the 2% rule/CAP rate exercises are just preliminary tests you can run on a property.

Eventually this activity could force out the lower income homeowners and renters because property taxes might get too high.Some preliminary conclusions: 1.

It is normal make a few small mistakes when buying regularly at foreclosure auctions, but I have been shocked by the reckless purchasing of these funds.I question if they are performing any sort of title search or even driving by the homes before bidding.

There are some issues with insurance and such when you transfer title and need to insure it.Plus it would shock me if the bank got in a hizzie if you transferred it from your name into a single member LLC that you were the single member of.

When you purchase title insurance the agent will send you a preliminary commitment.

I would get a preliminary title report before I went too far with it.

I'm shocked...best of luck.