there's a strategy for everything.  

hi BP,I recently bought some foreclosures from the county's forfeited land sale in Ohio (no redemption period), as you all know, the title is cloudy so the strategy is to rehab and hold to rent.

I'm an investor w 2 properties in New York,  Hudson Valley, Orange county looking at moderate expansion and investments in single/multi family houses.

If you run the numbers, you'll find the using the cf to invest with is a losing strategy.  

Then you can use the strategy that @Brandon Turner and @David Greene have talked about:  refinancing the property and pulling that money out tax free to fund at least part of your son's college (who knows what college costs will be in 12 years!). 

There are multiple strategies you can do, househacking is one.

That area is a quality B class neighborhood and in the Pittsburgh market you are not going to get much cash flow plain and simple. its a long term buy and hold strategy.

I'm reading in the forums that many use a once a month strategy as a general rule but does that still apply to pre-foreclosures since the potential seller's timeline may be a little different?

I am happy to see that you are thinking about the exit strategy prior to purchasing the home.

@Henry Thomas AustinHey Henry,I hear many investors use the "identifying as property manager strategy" but I haven't done it yet and dont see the use.