A few days ago, I bought a really cheap property in a semirural lower-middle class, but generally safe area. There are some nuances with title, but it's nothing that can't be cured.

The owner and their heirs have been deceased for decades. Yesterday, I posted my standard notice on the front door advising the occupants that the place has been sold, to call me, and that if I don't hear back, I may initiate an unlawful detainer or if the place is vacant that I may change the locks, along with a copy of the deed.

The property looks barely habitable (hot water heater is on the back porch (which looks like it's about to fall off its rotted post foundation), sheets of drywall and plywood out front, tons of beer cans and collection notices on the front door, and rotted siding/wood on one side of the house. Blue tarp on the roof, lots of trash in the front yard, and it's very apparent that the house has not been washed or painted in years. But... The power is on and there's a legit meter, and the neighbor told me that someone comes and goes. Yesterday, I noticed a bike in the front yard which was not there when I did my initial inspection.

I normally don't touch these kinds of properties (and try to avoid occupied properties in general), but it was so cheap I couldn't resist. It's not terribly far from me (about 20 miles), and it's a relatively newer property (built in 1990). It even comes with a giant metal shed and a carport.

I have no idea what's inside. IF it's not too terrible (under $15k - $20k), the plan is to rehab and keep it as a rental, and if it's a big project, I'll probably just sell it as-is. I can make a decent profit and someone else will get a killer deal on a rental.

Nobody has contacted me. The game plan is to go out there today and try to see if it's vacant. If it is, drill and replace the locks, post some no trespassing signs, and put up a few WiFi cameras connected to a mobile hotspot.

If there's somebody there, call the sheriff and try to ascertain who they are, if they have a lease, or permission to be there. If they are a vagrant, try to get the police to trespass them. If the sheriff won't help, then proceed with an unlawful detainer.

Does this seem like a good plan? Should I call the sheriff ahead of trying to drill the locks even if it seems vacant? I'm guessing as soon as I take possession, I should switch over the power and water.

Does anyone have any suggestions for additional methods of securing the place? Maybe a really cheap monitored alarm? I just ordered some more WiFi security cameras that are powered from light sockets.

Does anyone know if an insurance company that would write a policy in such a circumstance? I have a CGL policy, but it would be nice to have some protection if the occupants set it on fire.

My family thinks that I've totally lost my mind by buying this house, but they said the same thing when I bought my current home and I think there's potential. Thanks a ton for reading my post and sharing any thoughts or advice!

Tallahassee, Florida

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