During the last two years, I have been watching (studying) the market and I would really like to pick up a few foreclosures to hold for five years or so (college money).

Great job at such a young age - I bought my first property at 22, right out of college...which has given me a much better equity position over the years.....Other People's Money, right????

It really made a difference when they wanted to retire.This is the intention as I've seen many in the previous generation do this and retire comfortably.

Also, I have 1 year left of college, and will not be making my FULL income for at least a year.

I don't know if the bank would give you that info but if you go to the county's Registar of Deeds you should be able to look it up through the property ID number or name of the previous owner or by the commonly known address.

You can start training your tenants from the day you agree to rent to them, to become the best tenants you'll ever have and tenants that will want to stay with you for a long time.I always ask how their previous landlord was.

If you are required to give any personal notice then make a new lease to the person behind the door.Having two individuals who are not married can present problems as to who can be made to pay for damages, it may be equally between them, not good, or it could be either one being fully liable, taht will come down to state law and local custom to how a judge thinks.I have had many college students and this is commonly arranged in this area.

Increasing the rentsIncreasing the laundry incomeAdding a pop machineLowering the vacancy rateLowering the expensesConverting a storage area to an additional suiteUptrend marketMay all instantly increase the value / price of a commercial apartment building allowing a refinance or 2nd mortgage to pull cash out.Thats the power of commercial real estate!!!

It's bank-owner, has been on the market for 2 months (previous owned tried to sell it for over 6 months.)It's in a decent area, and comps that are larger and in better shape have sold for $190K or so.

As values are affected by previously sold properties these below market transactions will continue to take their toll.Don't believe the short payoff hype.