Hi everyone,If I get an offer accepted that is listed with a realtor, do I have to then do a double close? 

I just bought a list from listsource.com!

The listing agents want to make sure you close.

does anyone know how the new legislation in New York in December is going to benefit investors in ny are there houses that are not listed for sale right now that are already bank owned . 

The five states that account for 40% of the foreclosures, only make up 33% of the population.And NY, GA, IL, NC, & PA, all have more population than Ohio, but did not make the list.

My offer on a REO was rejected as too low - the issue with the townhouse is listed at (1)"system did not hold pressure due to damages, unable to find source of allleaks, water heater damaged at side where TPR valve damaged" and (2) "Water Supply and Sewage system was inspected for presence of obvious visible defects.

His company typically takes title, mine handles the rehab, and we settle up at the end.I do handle listings through my brokerage, but I'm fortunate that I have a very low (or no) commission split with my broker, so that's not really a factor. 

I have been gathering lists to get ready to mail to select zip codes near me and call as many landlords that I can find.

It's listed on the MLS at $190K.

I'll make a list of expenses I think I will encounter.Purchase - 65000Rent-  650Taxes monthly - 105Insurance monthly- 62Vacancy 5% - 32Repair 5% - 32Mortgage - 278All that puts me at 509 expenses versus 650 rent to be at 141 cash flow monthly.I have calculated the CoCR a couple different ways because I am certain that the house is rent ready now but I also figured it with some rehab expenses just in case I find something.141x12= 16921692/16000(down payment plus closing)= 10.5% CoCR1692/18000(down payment, closing, and 2k rehab) = 9.4%Like I said before 650 seems like the safe route for potential rent.