I saw a house go on the MLS this week for $30K, and a quick search of records revealed that the owner is in foreclosure, has already had the judgment made against him and just needs to have the date of sale set.

The contact will have a time limit.

I have recently acquired a tool that will help me to quickly find information about properties all over the country including foreclosures and preforeclosures, tax assessment values, last sale date, current owner, condition, comparative analysis, etc.

The borrower signs an IOU (the note) agreeing to the terms and conditions (payments, interest rate, due date, etc).The borrower signs over to the lender a mortgage or other security agreement.

The records might be out of date so see if you can get info from the actual sale.

Just based on the limited information provided, I'd be inclined to do the duplex route.Owner occupied can help you quickly determine if you have the stomach for bigger/better deals in that same area - or if you need/want to adjust your investment focus. :)

For you and your family Nate, the sky's the limit.

The loan does not specify who you have to use for the repairs (even the borrower), but they have to "be qualified to do the work and complete it in a timely and workmaship like manner"The budget would be very important as the funds for the repair are limited + small amount of contingency funds and are held in escrow until the completion of work.If it is a HML than the budget would still be important as you would have had to calculate them as accurately as possible to protect your profit.

Then you want to pick up on what is unique about their experience, the key things that made a difference in their business, what organizations, people, books or other things they have found are great sources or groups to join.Like dating.

Germancarfan,Realtytrac info can be very out of date.