Would you buy?

[Mik Scott]

Hi all,

I'm new and just getting my feet wet. Found an interesting property that is currently rented and the seller just wants out of it (tired landlord).

4 bedroom single family. has a tenant that has been living there for 3 years and really does not want to move, her lease is up in Dec. 2015 and is currently paying $670 per month.

Seller has a mortgage and pays $329 monthly. asking $33K and according to the county assessments and comps FMV is around low $50'K.

Any thoughts on ways to structure, or things to look out for.

Thanks in advance...

[Anil Samuel]

@Mik Scott  I would look at the current leases, utilities, and any other documents the seller may have so you can perform further due diligence.  Verify their taxes are paid up to date and there aren't any liens on the property.