Purchase Price to rent is one of several filters you can apply when looking for potential properties.

I've not been to one of those, but have worked with Kevin for several years.

A few months ago, when it was first listed, at $320k, I made an offer at about $285k, and it was rejected right away, they had "several" offers at asking.Well, 3 months and 3 buyers later, the agent calls me back, (I knew her from other deals), and said they are a week away from auction and 3 buyers had fallen out, and they are now ready for a cash offer.

But, there are plenty of other REO deals (those that have been sitting for several months where the bank is willing to take a low offer, for example) where you'll find less competition, and a financed offer closing in 45 days will be fine to the asset manager.But again, these terms (other than the 45 days) are great...don't let the long closing time deter you from trying to take advantage!

One of the tenants was a real jerk when we did a final walkthrough, and I have witnessed on several occasions that there are two people living in the apartment and 1 small dog, although the lease states an occupancy of 1 with NO dog.I don't want an immediate problem, and would prefer to avoid immediately having to deal with an eviction.

My plan is rent out each room as its own little part-time apartment to several pilot buddies while keeping one room for myself.

Tony,I had a mentor with several decades in buying and selling apartment complexes for himself and his syndicate, and he told me the only way to really get into the apartment business is to write a letter to each of the apartment building owners in a particular market.

A couple were not interested in working with me but several were.

I've made offers on several short sales in the past but never actually bought one.I've been told to put language in the contract to the effect of "property will be delivered vacant and all of owner/occupants' or tenants belonging will be removed before closing date".What about the final walkthrough?

The seller has been doctoring his books for the past several years.