Are they rebuilding the fence the same?

I completely agree that you must put yourself in the seller's shoes as best you can to match the right solution to what they want.Here is one extremely vital exercise I do now.1) Reverse engineer past profitable transactions.2) Deconstruct, examine & identify the key elements.3) Then rebuild the machine piece by piece to attempt to improve & replicate.It's a never ending process.

I'd then start buying rentals, with the plan to scrape and rebuild when the numbers make sense.

They have stable income, but they are going to stay in the rental market probably for the next three to five years until they can rebuild their credit.

Come up with something custom tailored to their situation and ask if they aren't planning on rebuilding, if they'd be interested in you taking the lot of their hands and could they use some extra money in their present situation?

@Rob K It appears that it's the elevation of your house:.National Flood Insurance Program FAQ"Flood insurance premiums are lower for buildings in high-risk areas that are elevated above minimum requirements, so rebuilding higher provides immediate flood insurance benefits.

@Rod Jones We've been down that road once and ended up walking away - the building had just the wrong amount of damage: too much for it to be viable for us to rebuild and not enough for the Vendor's insurance to declare it a complete loss.

If they are rebuilding odds are they wont be moving out of their new house anytime soon therefore you wont get your money anytime soon.I would shoot for a higher pet deposit myself.. say $1000.

I liked the idea of buying cheaply and helping rebuild the neighborhood.

It required some basic maintenance to be move-in-ready;- We are planning to tear it down and rebuild and would rather hold off and get a mortgage when the house is built, so we can pull out more than if we had gotten a mortgage on just the purchase.Again, that's just one example of why someone might choose to pay cash, but it certainly made sense to us for this deal...