In July of 2012 we had foreclosure filings increase by 60% in major metro areas for Q2.

As Jason mentioned, try to get the expectations clear quickly up front.I have tons of "I don't really want the job" bids....Then, there are those that bid based on what it will be worth after it's done and the increase in value is what they want......LOL!

It won't benefit me at all to have more grass for my tenants to cut, have my property taxes increase, and have to move a fence.

George,First the number 550 a month in rent.Let's break it down.For the area does the 550 offer first months rent free or half off or a waiver of security deposit.If that is what is a happening with competition for the area then rent is not 550.Let's say it is 500.Now look at the 500 per month.You will need to deduct your rents for crappy stairs to walk up,a sloped parking lot,no amenities,if you do not have a washer/dryer place for hook up etc.Your rate will now be considerably less than the 500 others are charging.If I am a tenant looking for a place I want the level lot,ease of walking into my unit,do not like tenants above me,ample and level parking,amenities,place to do my clothes.Buyers on resale will more likely want a 12% cap.I look at a lot of apartments for clients.This one to me is a pass.It has too many negatives going for it that make it hard to rent and retain long term tenants.Again that can be solved by a below market rent rate to make up for the problems it will still have after rehab.

Rents are increasing.

If you get a counter offer from a bank on an REO offer, and you want to increase your deposit as a way to make your offer more attractive, do you [i]really have to write a new check to give to your realtor?

This widens things up considerably for those of you delving into the gray, ethically questionable areas of this mortgage crisis.

2 rooms of carpet were totally ruined and had to be replaced, there was dirt and cobwebs in all of the bedrooms, windows had been left open and rainwater allowed to come in and stain the walls, hundreds of gouges and anchors left in the walls, oven dirty, floor and wall behind stove and refrigerator had a half inch of dust, dirt and food, etc, etc, etc.So, needless to say, I've had to spend a considerable amount of time and money getting the place back into rentable condition.

That means each deal increases the credit partner's income by 10k which makes him eligible for yet another loan that costs 400 or 500 a month.

But wouldn't this help your debt to income ration considerably?