the property is a foreclosure and the previous owner purchased it for $750k.  

I placed an offer on a bank owned foreclosure that was accepted 9 days ago and am currently under a fully executed contract.

My title company said as long as the attorney's representing the bank sent the IRS a letter letting them know about the foreclosure and it will essentially go away after the redemption period. 

with property radar, you can nearly any sort of list you can imagine: for instance, out of state owners with 100% that have NOT purchased anything within past 5 years,  people who've paid all cash for properties within the past X months, people who are in pre-foreclosure, people who have land, commercial property, farm land, SFR, etc.  

There are some clear cosmetics that need to be fixed (untamed landscaping, falling down chain link fence) but I actually am going to ignore renovation costs for this post and focus on the income/cash flow analysis.Rumor is the seller is pre-foreclosure (I couldn't find an LP in the county records though).  

Your input is greatly appreciated.Multi apartment buildings, around 100 units total, 80+ 1BR/1Ba, 20 2Br/1ba, laundry, parking, pool, clubhouse, the usualsAverage apt 520sqft, $500 rent, $250 deposit (current numbers, about fair for the area)Not a great area, "C" grade apartments, 80% occupancyBuildings in foreclosure, sold by the bank - i.e. no solid records on maintenance , income, expenses, turnaround, etc.

I will try to make a long story short.  I filed bankruptcy in 2011, let the house, car and credit cards go away.  There was a sheriff sale September of 2011, I started looking to buy another house last year and to my ...

I bought the house on foreclosure, out of state closing company is doing the initial closing, (I know bad choice) I am wondering if there is a simple way of using my buyer funds to flow through to my purchase without doing another closing, or using transactional funding.  

If the lender feels a loss will be 15-20% on foreclosure rates will be lower than if they could reach 40%.

However, the FHA underwriter informed the agent that FHA has a maximum percentage increase from the previous sales price to the contract sales price, and since my property was acquired through a tax foreclosure, the previous sales price is showing $0.00.