@Amir F.Here's the thing about agents and foreclosures, and this is true whether you're looking in Phoenix or California:1) It is such a seller's market that anyone facing foreclosure can easily get their home sold and get equity.

Not even saying that’s automatically true, but that’s how it feels.And the few times I’ve screwed up and called all they do is say “ I’ll contact the listing agent” we’ll I can do that and if I wanted representation I’d get someone I know.Can’t comment on the owner occupant approach.

I would encourage you two to sit down and talk about what you would like be true of this property (in 1 year, 5 years, etc) and make sure that you both thinking of the objective as the same. 

And so true, I'm tired of hearing people say you can't do this or that.

Simply is not true, as we are talking financial here.

As for cash on cash return, COC is a dangerous metric because it doesn't' show true profitability it only shows the power of leverage which is nearly meaningless and often used to pump up perceived profitability.

True.

True.

Also I read somewhere that having no mortgage (properties paid for in cash) protects you against this type of theft , is that true ?

Purchase price: $159,900 Cash invested: $42,214 This was the first true rental property.