If the market rate is really that high they won't have anywhere to go that is less expensive but might leave for comparable rents just for the "screw that" factor.My thoughts are to jack it up over three years, which will still build some resentment but may keep the tenants.Like you said, "It's not a hobby."

For investment purposes a duplex does afford you a safety net.

thanks for the info.heres a great r.e. info site. www.recenter.tamu.eduim a broker in College Station Texas.folks are coming here from all over because of the great values on property and Texas A&M University.you can search up to date listings from my mls site. type mikecutler.bcs.mlxchange.com or just click on my www icon at this site.i would be curious to compare foreclosure sales there with regular sales here.we have very few foreclosures in our area and usually they have structural problems or liens etc.I love to pay referrals (25%) for folks headed this way.Mike

I trust most of the numbers but for the "Supplies" and "Other Maint/Repairs".Are these some open category to show costs for tax purposes?

Realtors are considered "experts" and they shouldn't be trying to negotiate preforeclosures because that might end up with you in court.The truth is that investors can really make people happy by solving their problems while still putting a little coin in the piggy bank.Remember: the purpose of bankruptcy and foreclosure are to minimize losses to lenders while redistributing assets to make them productive again.

I would have an appraiser or possibly a Realtor work up a comparable rent schedule on your house to find out what the market rent is in your area.

No comparable rents...

If it has poor equity, you don't want it anyways (unless doing a short sale).Qustion #4: There are special circumstances (such as short sales and rehabbing) that give an investor a comparative advantage over the the home owner and are where the investor adds value.

With fair credit you should be able to put together a no money down transaction and afford payments comparable to your current rent.Good luck.

On the show on TVlast night "Million Dollar Listing" on Bravo TV one of the owners said she bought the house she was livingin and was about to list for sale "on purpose to flip it."