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And then Dave spotted a 1959 ranch house for sale, just inside the Sunset Hills city limits. It turned out to be in foreclosure, but. what was once a TV room – its paneling now painted white – and.

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New to the rental house scene are big institutional investors who began snatching up foreclosures in 2011 and turning them into vast portfolios of rental houses. Companies like Blackstone Group’s.

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The lender initiated foreclosure proceedings on these properties because the owner(s) were in default on their loan obligations. Pre-foreclosures also include properties for which a foreclosure auction is scheduled. These properties are not found on a multiple listing service (MLS).

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