I am also looking at duplexes and bigger in AZ, NV, and smaller communities north of Los Angeles.With just over 20k saved up and that more than likely not being enough, would you guys recommend pulling from my 401k to cover the remaining costs?

This would be your total recoverable amount should you foreclose or should the borrower refinance or pay off the loan, assuming there is enough equity in the property to cover the total amount. 

I am thinking of targeting certain neighborhoods, ones that have a low enough FMV so that rent can more than cover the existing loan payment, and placing bandit signs, as well as sending direct mail postcards, and/or placing flyers on doors.

As my screen-name implies, I`m certainly no expert, but I have been researching this subject myself for the past couple of months.

On a property I sold 10 years ago my buyer (and this is a buyer, not a L/O or subject to) has a "great job opportunity) a couple of hundred miles away and is trying to sell.

While you are driving track your progress on the map with a highlighter, so that you will be sure to cover the entire area.If you use farming as a tool you will enjoy the benefits of working in an area where you are familiar with the neighborhood, your customers are familiar with your marketing, and your closing officer will become familiar with you.

You are 100% right Chris, but FHA has not covered the servicing aspect in their amendments.

Also, you must make sure your tenants get renters insurance to cover their possessions.

hello everyonei was just wondering if anyone had any great marketing letters (targeted to owners of large apartment complexes) their willing to share. i also wanted to know if anyone has any audio's on the subject of learning commercial real estate investing that their willing to share as well.

I would at least find some way to cover my closing costThat being said, the recent surprise to me is 2% rule.