In RE, consideration must be appropriate for and in the scope of the value of the transaction.

BTW I visited your website and enjoyed your perspective on buying low price houses.

He must have looked up my return address and completely disregarded the number on the letters.

The closing attorney must also be an insured closing agent of the title insurance company, that can usually be arranged, but the title insurance company will have something to say about that and most have attorneys and the agency may be owned by one.Have you even asked the discount company if they have closing attorneys, as it is a specialty and you may bump into an attorney who gets into a situation where they would normally be assigned a closing through the title company and then receive the same request for service from the discount company.

There is another centrally located round hole that must be another drain of some sort.Well, it flooded. 3-4 inches.

He said, however, that he is “upside down”, so he must have re-financed once or twice enroute to a total current tune of some $210-215K.

Hey Rosa, That must have been frustrating.

I'd say they are doing you a favor, 24K loan and one point, they must not be busy, grab it.5 yr. is customary, banks can't take the interest rate risk at 5%. :)

If they don't meet other requirements, I'm not seeing that income is an issue, but if you're willing to overlook other issues, you need to change your requirements.Income should be and must be considered regardless of the source of funds for legal activities.The issue is that income must be reliable.

At least in SoCal/Los Angeles County I should be able to experience decent appreciation.(2) I don’t have a good feel for the area, so I’m hesitant to purchase in the wrong type of area (bad location, bad pool of tenants, etc.).(3) I'm a beginning investor who intends to be a hands-on property owner (at least as much as possible at the start), which means a lot of long drives from L.A. showing properties, dealing with utility companies, handy-man/contractor visits, etc.