Sorry this post was so long, I just want you to focus on what you CAN do as opposed to stuff that you've got no control over!

.: 336 Foundation: 02 - CONTINUOUS FOOTING Floor System: 04 - WOOD W/ SUB FLOOR Exterior Wall: 04 - SIDING AVERAGE Structural Frame: 00 - NONE Roof Framing: 02 - GABLE/HIP Roof Cover/Deck: 03 - COMPOSITION SHINGLE Cabinet/Millwork: 02 - BELOW AVERAGE Floor Finish: 08 - PINE/SOFT WOOD Interior Finish: 07 - DRYWALL Paint/Decor: 03 - AVERAGE Heat and A/C: 02 - WALL/FLOOR FURNACE Plumbing Fixtures: 6 Bath Tile: 00 - NONE Electrical: 03 - AVERAGE Shape: 01 - RECTANGULAR DESIGN Quality: 01 - AVERAGE Act Yr Built: 1945 Condition: 1 - NEEDS MINOR REPAIRS Building Areas: Area: BAS Sq Ft: 1,152 Area: OPF Sq Ft: 168 Area: EPU Sq Ft: 168 I have an estimate of repairs to be at 15-20K, but what concerns me the most is that there were 2 meters (one for each side) and one is gone and the other is still active!!!!!!

The $600 one isn't too bad on the inside and could be fixed up without a lot of effort.All I can see of the free house is the exterior.

Get someone who is newer and hungrier (RE agent)..period and is not opposed to making several offers.

I would want the property to be in a growing area as opposed to a place that is dying.

In my above statement, when I said funded in cash, I was referring to let's say "sweat equity from a service rendered" as opposed to a cash loan.

HOA DOES generally cover water and trash, as well as landscaping, sometimes roof, termites and exterior building insurance. this GENERALLY doesnt require you to have any further insurance, it will not cover the property inside the condo, but you would not be covering that anyways, and recommend your renters get rental insurance. 3.

Rewards are often that the construction back then were more solid than some of what we find today, even though they were not as energy efficent and often wired for 110 as opposed to 220.Downside was that the bedrooms were built much smaller than we are used to today because their activity was in the study, den, or family room.

And you could even provide work for rehabbers or even wholesale those properties to rehabbers if you dont care to finance the work needed.With the problems from the past hurricane, and the number of people that just dissappeared after that, right now should be about the time that these properties hit the tax sales and you should have a large inventory of properties to choose from as opposed to some tax sales where the investors actually bid up the prices until they are not worth it.You can potentially do all the previously mentioned strategies through the tax sales.

I've been looking at long lists of REO's in my area (within 20 miles in my county) and have even driven to a few to check them out (nothing formal, just looking at the exterior of the properties).