So, that is my thinking and basis, states may allow it, I don't know if there has ever been a challenge to this, I can see where it wouldn't be if it was common practice, but who knows....Again, I totally agree, these matters are state specific and folks need to get with local counsel. :)

Condo conversion address 1613 6th St Berkley CA7 unit apartment complex sell price is 1.52Msix units are 2 bed / 1 bathone is a 3 bed / 1 bathall units have their separate gas and water meters and parking space, there is even a common space available set up in the complex.Condo compatibles are $400,000 plusEven without the conversion I am told the rent are $135,000 per year cash flow.After talking to the planner at the city, most of the conditions have already been met by this particular property.It will mostly be paperwork to convert and put in place an HOA.

One of the common strategies to get past the initial 4 mortgage problems that people use is 4 in his name and 4 in her name.

In some areas it is common to do a "Quite Title" Action to clear the title after a tax sale.

When I think of the word "scam", the get rich quick mentality comes to mind, and it's always those that fail people in this industry, leading to the common complaint of said failures being the results of a "scam".

Sadly...this is very common in the industry especially with short sales.

@Darrell Shepherd makes a lot of great points.To really answer your question you need to see what is common in the market you are working.Some guys will still want a certain discount (which may be 70% but might be less) or they want a certain return or are just looking for a target cash flow.I know I would always want to buy at as big of a discount as possible, but on my rentals if I get the return and cash flow I need I will consider it even if it is relatively close to retail.

Common at apartment complexes, covered of open parking.I'd say leaving a '65 Goat in some distant garage would be deemed as classic car abuse....LOL

We provide each bedroom with their own keyed knob in addition to a shared key for the front/back common door to the full unit.We do this strategy all the time and get way more than most managers in our town.

From your profile description it sounds like we have a lot in common from a property type standpoint.