Response to Angela DeBorjaI believe you need to be where sellers, owners, investors and auction bidders are to really be market wise.Learning this business has many advantages, but also giant pit falls; tenants suing you, not paying rent, rent escrow, no income (mortgage must be paid), repairs, unnecessary calls.negotiating with sellers can be distressing; tax sale, mortgage foreclosures, health issues, bankruptcy, estates.Bidding on tax certificates, lots of competition.I like to avoid the competition and deal directly with people who really want or need to sell.Go where you are respected and appreciated - to the sellers who want an offer.Rent court - who goes there - tenants who don't pay and----- and landlords with tenants who don't pay!

I've got a couple decent candidates I'm considering, both with pros and cons...1st OPTION:Doctor + retired woman, both mid-60s, no kids, no pets~ 9x monthly rent in income2-year lease... potentially longer termGreat credit score-- However --Tax liens, bankruptcy, both have "messy" divorces in past couple yearsOnly been dating for about a yearDUI, expired plates, and another charge I'm looking into--2nd OPTION:Young couple, Dad + stay-at-home mom, baby, small dogRelocating from Texas~ 4x monthly rent in income1-year lease... almost guaranteed not longer than thatAlready had higher house payment in Texas, so rent would be cheaperExcellent credit scorePerfect background checkPerfect credit reportSo the question is, do you go with the older couple without the pet who's already interested in signing a 2-year lease and could potentially stay longer?

Hey guys,There is a property that I am interested in that becomes available early next week that is being sold via a bankruptcy trustee sale. 

Many states protect a primary residence in a bankruptcy or judgment position.  

Had a very hard time finding work,  we lost our sitter,  and had to file for bankruptcy.  

I'm thinking the current bank will take a low buy off amount in case homeowners file bankruptcy.  

Specialize in working through complex transactions, like probate, bankruptcy, etc. that most shy away from.Good luck!

Despite what any broker out there might say to the contrary, the only difference in dealing with short sales, REOs, pre-foreclosures, bankruptcies, corp relos, etc., is with the paperwork and method of offer submission.  

A divorce, a foreclosure, a bankruptcy, a death certificate, etc.  

Not uncommon, this was a terrible time for management and collection attorneys because foreclosures, delinquencies and bankruptcies were abundant then.