It doesn't make every report spot on, but increases the chances.

I do have a working theory in this spot.

Here’s the deal we are looking at:House last sold for $122,000 in 2008, asking price is $69,100.There are 2 potential problems with the house: 1.There is a small spot of mold in the master bedroom closet.Should we hire a professional and get an estimate of what this may encumber before we even make an offer?

I used that philosophy for stocks before I started investing in Real Estate.If you sell the property, what will you do with your proceeds and does that give you a better cash flow or chance for appreciation?

However, don't put too much stock in a few comments.

@Gary Lallo In your spot, the first thing I would do is check with people at the Cincinnati REIA.

Bill Gulley Sorry to put you on the spot with my silly questions, I realize now alot depends on the market I am struggling to figure out being here :) Maybe I should go to the guru and see if they even know any of this or are just passing through town trying to sell bunch of bs that don't work?

I hope to utilize my design training to spot good opportunities that can be re-habbed and am learning the RE business so I can be knowledgeable of the different opportunities and ways to invest.I have shared with a few friends in RE classes so maybe we can get a real connect group going here, who knows?

RE foreclosures and collateral sales are not readily liquid and the fact that a recourse loans are made, address this issue of accepting a less liquid asset.Now, if the individual borrower were to pledge the property as well as cash assets, say a bond or even stock or bank CDs, then the collateral aspect could swing the risk assessment toward a NRD.Off to other areas.Usual and customary carries legal weight in any transaction, from buying a car to having pizza delivered to residential and commercial real estate deals.What would a reasonable person do in the same situation if they had equal or nearly equal knowledge as other parties?

From what I've seen so far, you're definitely in the right place; the advice and resources on this website are spot on.My real estate goals are pretty similar to yours.