I also know a bit about project management, so if we decide to do a more major remodel on an investment, I can properly plan it out and keep it in check.I just wanted to introduce myself and say hello to everyone.  

None of it is worth very much money, but I want to make sure I follow proper procedures.Does this fall under "tenant" laws?

I'm trying to understand when the proper time might be to throw in the towel and jump into a short sale.We purchased for 450k in 2006 at market peak, lived in the house until 2011, and then rented it out for $1400.00 which is the going rate for the el paso/cruces area hoping the housing and rental market would rebound.

Action is great but just ensure you are performing your due diligence.

Is it possible to get a good deal and be able to rehab the house and get proper insurance or will i be forced to rebuild anything i get thats on the water??????? 

This of course in not suppose to happen with proper remediation but it is better to be safe than sorry.

We noticed how very inexpensive it is to purchase there, yet the cost of living very high.We spoke to a relative who lives over there who also rents out a place and hires a property managing firm that ensures the rent is paid and all is in good condition at a very reasonable rate.

I just have to figure out the proper way to work it out..Last year I shot myself in the foot by declaring 'unreimbursed business expenses' that were actual expenses. 

To ensure people see your comments, type @ and the first few letters of their username and watch the lower left corner of the screen.  

This is a great strategy to build wealth in a relatively safe way that ensures a low rate and 30 year money!