Frankly, nothing is cheap around here unless you uncover the deals which is what I'm starting to attempt to do for several different purposes.Actually, the angle you come from is one I have thought about a lot.

It seems this could be put to good use uncovering properties that would be good candidates to rehab and flip.* I have math and analytical skills.

Always some uncertainties in their mind when there is changes in management/ownership- To learn about the tenants ahead of time and set plan of action after the close (ie, to keep or to kick them out :-))- To learn about the property that inspection might not uncover ...The first day of the close, I knock at the doors (and/or call first) to introduce myself, with the following:- Walk thru the property with tenant and note down inputs and existing issues- A nicely prepared folder containing: + A simple letter stating change of ownership with my contact info + The existing lease agreement I got from seller + A full sheet of sticker for my mailing address (PO Box).

They came from uncovering distressed situations that needed solutions.

If they are left behind by a tenant (and are in good condition), I'll leave them up, but otherwise the windows are left uncovered for the exact reasons you've already stated.

Downsides are: they park on the quiet street uncovered.

WorthQuiet, older neighborhood with lots of rentalsAsking price $48K, was marketed as a triplexI offered $30K cashDOM 7They countered $40K cash and a short closing date(10 days)I was able to do my own inspectionsDiscovered 4 kitchens and 4 bathrooms.Needs trees trimmed, roof, minor interior repairs and cleanup.Should be worth $80K-$100K when finishedI uncovered a city lien against property for grass cutting(they had to pay for)During title work a federal lien was uncovered(they had to pay for)We closed on the last possible day at 4:00pmObservations:I used a buyers agent to represent myself.

Labor-only bids will also allow you to compare apples to apples on GC bids related to specific tasks.If there are some unexpected repairs uncovered during the inspection, this is your opportunity to ask for concessions from the seller.

Simply checking with the local landlords (and seeing this done in my own market) quickly uncovers this.

Now, some states have different rules for whether HOA liens survive a foreclosure, and you will have to uncover what those rules are for the state where the purchase lies.