I use the BP Tool once I have found something interesting to make a formal printout to give to my wife and maybe lenders if I am going to need financing on the deal.

Thank you for the article @Greg R.I once entertained a group of annuity salesmen  bought them a big dinner and booze etc.. by 1.5 hours into it .. with loose tongues their tone and telling tails of how they hook older investors into these deals and the commissions they make.. 

In this particular case I know I'm going to need a lawyer.

It has definitely grown since I moved to NE last year.

I would also encourage you to keep building up cash reserves, you're going to need them. 

I'm not an authority but I do know you can buy a house without much money, but I think you are definitely going to need some credit down the road, and you might as well get started now. 

With decreased inventory hit the market and people who need housing are still going to need a house, I think that's why I don't see much price drop yet.

If you are worried about someone trying to muscle you out of your deal or out bid you after your seller signs it you can have them sign it with a notary and have that purchase agreement recorded at the county recorders which would cloud title.

After you know all those laws, I would talk with the seller about notifying the tenant that you will only (this can be done through the contract) be purchasing the property if they evict the tenant in the time period of escrow, and the unit needs to be investigated while in escrow, or you want a reduction in price due to the lack of knowledge of that unit.I have inherited a tenant and California is way different and more strict with tenant/landlord laws than most states, but luckily the tenant left without too much muscle (figuratively speaking).

Expect to need cash for this to work* You are a developer, buying properties that are in significant distress, scraping them, and building new properties that can sell for top dollarPersonally, the first two points are true for me, and I expect that over a long period of time, like 20+ years, patient Denver investors will be rewarded more so than investors in other parts of the country.