I would say your targeting and action is outstanding, but I think you might have moved too soon if the property is not cash flowing.

My father is also a very good arguer, so even if what he's saying is wrong, he's pretty damn convincing.

We do have another offer outstanding with REO property so cash is needed for that as well.

I just made an $8 MM offer requiring a $2.5 MM rehab, and I'll be damned if it's not a $15 MM in 5 years and $20 MM after 10...

@Kole Kingslien  Guidelines for land contract:- Payoff of Installment Land Contract Requirements When the proceeds of a mortgage loan are used to pay off the outstanding balance on aninstallment land contract (also known as contract or bond for deed) that was executed within the12 months preceding the date of the loan application, Fannie Mae will consider the mortgageloan to be a purchase money mortgage loan.The LTV ratio for the mortgage loan must be determined by dividing the new loan amount by thelesser of the total acquisition cost (defined as the purchase price indicated in the land contract,plus any costs the purchaser incurs for rehabilitation, renovation, or energy conservationimprovements) or the appraised value of the property at the time the new mortgage loan isclosed.

I’m searching for agents who are familiar with the Columbia county Wisconsin market.If you are or know of an outstanding agent with a bigger pockets mindset, please send them my way.Thank you and have a great week.

The condition however has deteriorated and it's a very old house, I believe it to be worth closer to $700K at the moment.A large and well known mortgage servicer was assigned to us, and they currently have the outstanding principal at $651K, but when I recently requested a pay off quote it came out to just about the same figure as what the house is worth, so, no equity.My mother is 80 years old and English is not her first language. 

We can typically model which loans are open and outstanding, and their balances.

At some point the reckoning of all those outstanding mortgaes and taxes are due - where there will likely be many foreclosures / short sale or other distressed situations on the market 

Luckly he called me and I told him " No Damn Way , pay the service call and send them away "  I now have a job on Sat Morning .