Here's a summary of the economics.They purchased the property for $280,000 in 2004.The loan balance is about $178k.Monthly principal and interest payment is about $1,265 with $709 currently going to interestProperty taxes are $4,116 annually and insurance is $1,000.Currently the house is vacant for the sale so there's no rental income.Therefore, the monthly burn is -$1,135 (ouch).For the sale:Property was originally listed at $335k and they received 0 offers at that price. 

Nearly half of the complex was burned down from a fire about a year ago.

Addressing the problems is like trying to put out small individual fires in a forest that is burning.

You have good tenants who pay market rent (more or less) and are willing to sign a 2 year lease...one thing I really like about keeping good tenants is that your vacancy rate will be a big fat ZERO for the next 2 years! 

I would see that as a big fat red flag

Hey, @Cassidy Burns, sure you can over negotiate.

I may have fat fingered some numbers.

@Cassidy Burns are you still looking for one?

Bob Burns

Hi,I'm a single mom with a six month old baby. I have 80-100k of equity in my house I can easily pull out. My plan is to stay home with  my child to raise her. I can't get a new mortgage being I am currently unemploye...