Although some believe bargain basement prices for distressed properties may be ending, a large inventory still exists.

FORBES: Are Distressed Homes Worth Buying?

They first took stock of the inventory of the few hundred common properties that they owned.

FORBES: Divide And Conquer

Despite the first monthly increase in home prices in 7 months, as the Case-Shiller indexes showed on Tuesday, there are still more than 10 million properties with underwater mortgages, and a shadow inventory of 1.5 million, or four months supply.

FORBES: 10 Million Underwater Mortgages And Shadow Inventory Worth $246B Mean Housing Trouble