Baby Boomers typically live in the higher end homes.

I called the sheriff, they referred me to the magistrate. 

@Israel R. shoot me a pm I can refer you to broker that convers these areas, he helped some with this situation.Just do us all a favour and don’t over pay for the properties.Often with 1031 exc buyers rush in and end up over paying...Also been from California worries me ;-) 

Check references Use rent perfect to screen them if they will be working on tenant occupied units.

Typically need to pay monthly or quarterly?

I’m not necessarily going after the property I was referring to, however that property is underperforming due to a severe lack of management because the owner is across country.

Typically what he provides is a letter stating the property has been sold and here are the new instructions to contact for maintenance issues and instructions for payment (also provides a copy of the deed, showing the sale). 

If you want REAL rate of return/cash on cash, look outside of the typical areas.PS, a lot of the areas that are becoming popular/gentrified and hot topics now are just as crime-ridddn as areas that are completely ignored.

Remember bedroom windows must be operable as they are your second point of egress typically, building code required. 

You typically have a draw period of 5-10 years where you can take new advances and then a repayment period where you repay it but cannot make more advances.Another option is to do a cash out refinance.