Delve deep into how I feel about it and orient my future accordingly.For those of you that knew you wanted to be an investor; before purchasing that first property what steps did you take to get there?

Drive the area looking for rental signs and then put the addresses into zillow etc...to see if you can find interior pics.

Overall the Oz economy has slowed significantly (mostly due to the oil and mining slowdown) but relatively low interest rates (nothing as low as US or CDN) are driving those investors that can, to invest (plus our currency is now much cheaper than just 1 - 1.5 yr ago). 

I guess it all depends what direction an hours drive it is.

If you don't like these kinds of headaches then look for different investments, but there is money to be made here so if you can tolerate it then drive on.I will also say to just let the insurance company deal with it and don't worry about whether or not these people profit from their scam.

When they begin to pick up on the financial restitution and fines available to them and understanding how lucrative financial laws can be, they may well stop chasing an ambulance and start  driving for dollars looking for Rent-To-Own signs!

It definitely has value above and beyond the tax bill, and I had a friend in that area drive by and verify the condition of the property and that it's occupied. 

That way I can be able to make the drive for whatever reason, as I am not adverse to the idea of investing a little sweat equity into my properties. 

You must build rapport as you go throughout the entire meeting with the seller.I really want you to spend 5 to 15 minutes upfront building rapport before you move on to step two, but that doesn’t mean you’re done building rapport.Throughout the negotiation you need to gauge your level of connection with the seller, and look for opportunities to deep in this connection.

Although it's not as important as Senior Lien status, determining equity doesn't necessarily drive the outcome of the deal but it can protect you in case of default.For either 1sts or 2nds you can also look at where the property is located to determine foreclosure timelines as well, which could be important in the event of a default.