But still, within a few weeks you should have someone applying who is qualified from my experience - which is in Florida, not New York… but all things being equal demand works similarly.If marketed correctly now, it tends to point to price sensitivity (too expensive) relative to other similar offerings,  or some other detractor as to location or convenience.   

It's possible what you have done on your own isn't even to code or done correctly so you could be losing value if you haven't been careful.It's great that you took action.

Overall, you are correct.

Not only that he gets stepped up basis and sell with no tax  double check that with accountant but I think that is correct.. then take the cash put it in 5% gov bonds for now then get up to speed and see what you really want to do. 

Hey Everyone!Names Christian, I’ve, been doing real estate investing for bout a year now, worked on my first property which wasn’t the best ideal situation, but it was an amazing learning experienced that I wouldn’t t...

@Tom Gimer - You are correct, and many loan docs provide that an additional encumbrance constitutes an event of default. 

I would start the process for this as an eviction with an eviction attorney, and make sure you follow the process correctly to get her out.

I guess my other understanding is that I have to provide it is water proof and it is correctly zone for fire.

80% Cash Out No Seasoning3 Month Seasoning6 Month SeasoningShort Term & Long Term Rental OptionsVacant OptionsManufactured Home OptionsSome lenders will do 100% of your purchase price + rehab costsSome lenders will do 120% of your purchase price + rehab costsSome lenders will do 140% of your purchase price + rehab costsSome lenders will allow for PadSplit PropertiesBuying correctly with hard money can also allow you to get your cash back from the hard money loan so that you can do a Rate/Term refi with almost all lenders having no seasoning and getting better rates due to not being a cash out refi!

Shoot, that is correct, completely forgot that could take longer and in my opinion i though that 90 days was ok, but you right from the time we can do showings and people get their paperwork/money together we could be talking about 60-90more days, thanks for bringing it up Bob..