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Updated about 5 years ago,
Purchasing property back from an ex spouse
Back story: Wife and I divorced June 2018, at the time, we had 6 properties and she received 2 in the divorce subject to the mortgages on the properties. Ex wife has a drug problem and has not been responsible with the properties as far as managing tenants, and making sure the mortgages got paid. I had to step in before my credit took a hit, over a year of back and forth in court, she has been ordered to sell both places to relieve my liability.
One of the properties is a duplex with good numbers, I used to own the property and a good amount of money was spent rehabbing it at that time. My ex has been coming up with excuses in court to delay listing the property however I believe the numbers are good even at the current fair market value and finding duplexes at reasonable prices in my area is not easy. I'm planning to use the FHA loan to owner occupy the property for one year before I move back to the house I am in now. Would this be something you would do given the drama surrounding it, or would you pass? Just looking for opinions, to me it's just a business transaction, plus it will end a year long stress.