A Risky Move

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Hey, I am writing in hopes to get advice on what some think is a risky choice. I feel it would be a good decision. BACKROUND STORY: I was driving around and had to pull aside to take a phone call. During the call, I kept glancing at the house I parked next to. It's an brick home with a large yard....that has been abandoned. The doors are boarded up and there is obvious roof damage. I was able to get a glance through one of the windows to see a skyline was put in lol. I was also able to see the kitchen cabinets were torn down, which gives me little hope for the other rooms. The walls seem okay but the key word is SEEM. CURRENT SITUATION: I have been researching the house extensively since I found it. It is still owned by the son, not a company. No one has lived there since at least 2010. There are some current liens on the home (no more than $2k) and property tax has not been paid, according to county records. I really want to buy this home and flip/rent it out. The county website has it appraised at $50k, I would like to purchase it at $30k. Is this crazy? MY SITUATION: I have $50k saved up from working. I would like to track down the owner and offer/haggle up to $25-30k. I expect damage repair to hopefully be no more that $20k. Yup, I want to put up my savings on this. Here is the thing, with that being said, I can not and actually do not want to deal with a agent for this. No offense. I have continuously been told I am taking a risk but going this way but I understand. It is something I am prepared. Finally, here are my questions: 1. Can I go to the owner with a warranty deed and house deed to have him sign over property? 2. Do I still need to sit down with him to sign the Contract for sale and purchase, Sellers disclosure statement, and the lead paint disclosure forums? 3. Where an I get a warranty deed? 4. Can I so the closing at my bank or does it have to be at the court house? 5. Do you have any advice for me? 6. If this is impossible, are any of you a real estate agent in the Tampa area? Lol Thanks a lot for stopping by and reading! Kape

[J Scott]

Before answering any of your other questions, I'll just say that -- based on your description of the house -- it's unlikely you'll get it rehabbed and in rental shape for $20K or less.  I could be wrong, but if the house hasn't been lived in since 2010, you're probably in for quite a few surprises...