Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

Recently it sold, price unknown.Rent-o-meter estimates $638 – $837 If I were to buy & hold this property I would make it section 8 ready.Tax assessor says it sold for $143 in 2002 then $192,750 in 2004 to the current owners.Record Deeds Info / aka Red Flags:'05 Well Fargo Mortgage 207k'05 Mortgage Discharge Mers Inc (3x)06 Lien Municipal (City) 2.6k due06 Wells Fargo Mortgage 228k till 11/203606 Wells Fargo 207k Released08 US Bank National Assignment'11 Intent to Foreclose (03/25/11 Auction Cancelled)'11 228k US Bank National Citigroup Mortgage Loan(Common sense is telling me they refi-ed about 30k a year after buying & I'm thinking in 3 years they couldn't have paid their mortgage down from 228 to 44k) but my real estate knowledge is limited.

fyi...NOT worth the time for 1 months rent....would rather assign a LO contract for real $$$.....4-15k :) My 2 cents

Either way, would the offer be handled the same way as a typical wholesale with the buyer getting the property under contract with an "and/or assigns" clause in it?

I recognize that time is of critical importance but when a property is in this situation are contract assignments even allowed? 

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsWishing you the best! 

Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.Finally -be sure to setup some keyword alerts - especially for "Olympia" so you can jump into local conversations.See you around the forums!

Don't miss The BiggerPockets Podcast - they are great for learning how others are finding success.You might enjoy this: How to Start Investing In Real Estate at a Young AgeYou may also enjoy this post, about multifamily properties: How to Buy a Small MultiFamily Property: A Step by Step Case StudyLastly - be sure to set up some Keyword Alerts- especially for "Thosand Oaks" so you'll be notified when people mention it here in the forums.Thanks again for introducing yourself!

One of the best ways to get some SEO traction is by writing high quality blog posts around a certain keyword you'd like to target.

My “math” only took into account PITI, condo fees, and management fees at $850, $232, and $123 respectively.I did not realize that you also needed to account for vacancies, maintenance, and CAPEX on top of that to get a true indication of cash flow.Adding these to the mix, my actual cash flow was -$585/month.Yikes.Upon my move, I figured I could save some money by paying off the second mortgage which had a remaining balance of about $11k.This dropped my actual loss down to ~500/month on a $23k investment.My property, originally worth 115k, for which I paid full price, was now worth ~$90k.Mind you, my stock portfolio had also dropped significantly.For my next military assignment, the Air Force moved me to Edwards AFB, CA in 2009 which is in the Mojave Desert about 1.5 hrs.