I'm making a few visits there this year. iv been wanting to start rental properties for a couple years now but felt like i was being held back.

Ok the next person who corrects grammar - for the next 30 days all their postings in yoda grammar they must write.

Must be no seasoing.

Just don't make the mistake that many did recently and think it must be a good deal if it is bank owned.

I will then explain to the noisy tenant that ALL tenants have a right to quiet enjoyment of their property and that they MUST keep the noise down.

Anyone can bid, but (here at least), you must cough up the winning bid at the end of the sale.

They then add a federally accepted overage which by law can be up to 15% (they must eliminate this if you tell them you do not want them to include it).

Sometimes a visit to the tax office will help.

As Wheatie said, you must keep the standard residential lease completely seperate from the option, and also take as much as you can up front as an option fee.

I have gone to most of my closing tables and walked away with a check as I bought the property (granted I have a bigger loan, but now have rehab cash).My last deal, currently under way, they are willing to pay rehab (if it appraises right as per above), but I must provide receipts for rehab and they will reimburse me.See the link in this REO forum:http://forums.biggerpockets.com/viewtopic.php?