I also do index sized business cards with pictures that I hand to everyone.

Remember as an investor it is not the VOLUME and size of the deals you put together because many can be crap it is the QUALITY of the deals you do.I would rather spend a few months doing an awesome acquisition than buying up marginal to okay deals left and right.I have seen this happen on flips and long term holds.In both cases the investor did real well on one property and then started getting carried away.Pretty soon a couple of marginal deals starting to tank their long term portfolio into a neutral or negative position.Even on flips they made good on a few and then the next few went real bad and they were almost at square one again.You have to treat this business like a pawn shop.You will come across many sellers but few will accept your price and terms.So you have to keep going or come back to the seller until they get desperate enough to meet your terms.A classic tactic with a seller is when they will not accept your price and terms.Then a few months pass and they come back to you.Then if you have a couple deals on your plate you come from a position of power.You let them know you are involved with other projects now and to take this property on now you couldn't pay what you offered before and can now only do XX.There will always be another quality deal to be had but millions of marginal to okay deals to get stuck in for years and paralyze the growth and success of your real estate investment portfolio.

It looks like I have finally found a small bank that will approve a mortgage for me.

I realize that these do not truly tiny homes  but its hard to get permitting for much smaller. the  issue of cost is that plumbing and electrical infrastructure co the same regardless of the size home so that the  difference between >400 sqft. and  800sqft. is not that much proportionally.

I was told by my agent that since it was "Online Only" that it had probably already been to the convention center and this was probably the final auction.

Finally, in the event of a sale and 1031 exchange, does the cost segregated property qualify for 1031 exchange?

@Terry: No I havent rehabbed a home from the 50's, let alone one this size.

Been visiting and reading for a little while here on the forums and the blog but finally decided to introduce myself :DAbout me.

Since REO's have potential unknown liability issues, is it more likely a "you get what you pay for" situation.A home may have a price of $250k, but have an estimated value of $300k (based on size, age, neigborhood, etc), but that means the bank estimates there is $50k worth of liability (whether that is unknown debt or repairs).

And the final project only has 4 investors.