I was just assuming they get whatever money they could and then let it foreclose again, but there are probably issues with that from a bank's perspective that I'm unaware of.

In the experience of me and some of my close friends in my town, REO's priced decently from an investor's perspective do go at or above list....

It was interesting to get your perspective on how you value your real estate.

Banks in India are very enterprising, by contrast, and it is quite a bit easier to explain a business to them and have them evaluate it with an entrepreneurial perspective.

From a management perspective, never hire anyone you couldn't fire and walk away from without it tearing you up inside.

I will give you my perspective based on my state only.

All of your insights are very helpful.Great to hear from the broker perspective, Joel!

Anyone able to offer a perspective that deals in Pennsylvania or more information about our options?

For example, if I have a 2 bedroom, 1 bath home and remodel it to a 3 bedroom, 2 bath home, that expense goes into my "Tax Basis" for depreciation but not into the 50% category.I think we're in agreement...When I said Capital Expenses, I didn't mean rehab expenses to get the property into rental/habitable/marketable condition (though from a tax perspective those definitely are capital expenses)...instead, I meant the Capital Expenses needed to keep the property in that state after you start renting it out.For example, replacing the roof every 20 years or so, replacing the HVAC every 20 years or so, replacing the hot water heater every 10 years or so, etc.A lot of people call these "expenses," but from a tax standpoint, they're classified as capital costs, which is why I call them out separately.

It is nice to hear about RE transactions from many perspectives.