(As an example, I just put a bid in on a fourplex that will be bank-owned next month.

A specific example is metro Portland OR where whole sections of the city were forced to hook up as the EPA was coming down on the city.

They are still emotionally tied to what was once their property (less so in the example with Bob but you get the idea).Most investors would pay Bob when he is out and not before.

(I provide mine by signature link as an example.)

Perfect example of the old expression; "if you don't have a destination any place you end up is wrong"!

For example, if some took out a loan at 8 percent for 15 years and then maybe a few years later can get that loan refinanced at 6 percent (which will extend the period of the loan, as it will start back to 15 years again) how does one determine where it is too late to feasibly make this transition considering that the one is getting a lower interest rate, but extending the period of the loan at the same time.

In Minneapolis for example, in properties that are zoned R2B, only 5 unrelated persons can occupy each dwelling unit.I rarely see rooms for rent anymore (boarding houses).

For example: You could make more money in rents providing "free" high-speed internet to your building.

Another good example of a similar risk is investors bidding as owner/occupants on HUD properties, which I hear happens alot.I guess I'm going to have to bite the bullet on the risk factor here for my first property and DEFINATELY get a mortgage broker to work on my next one.

If you are doing multiple properties you can carry materials from one site to another (shingles for example).