Note: when i say charge, it means deducting the security deposit.James and Shanti

If you rub elbows with council and do a bit of research to secure some grants you will likely be able to purchase those properties for next to nothing.

I work with a bunch of contractors, and investors in the area supplying them with materials in my current job.

You get the calls, which is always positive to have interest in your property.Also, be aware you are advertising a vacant property with a sign, meaning that there may be security issues, depending on the neighborhood or how much crime an area has.

. $150 extra ($2 per foot - he supplies)."

Also know your state laws regarding handling of security deposits, etc.

Another lesson learned here is to make sure that the security deposit is a sufficient amount (many get a full month's rent) and have it stated in writing that the security deposit is non-refundable, but gets converted to a refundable type once certain conditions are met.  

If I had qualified for over $25k the rates would have been better.The process is just like applying for any other loan except that a HELCO is secured by your house.

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

for example ... if I go in to the that bank owns the property and talk to them and submit an offer to them..... is the process that i will just have to wait until the auction is over .... or is it worth the time to go in and speak with bank if the property turns out to make sense and i am able to secure financing  once again... thank you to bigger pockets, i am / have learned so much.