The labor is free, as the lady that cleans my places does it for free.

Some of you are making it sound like the Wild West and no signed agreements matter.

I ran the numbers on my own and I got wildly different calculations.4 units are 2bd/1bth and rent for $5501 unit is 3 bd/2bth and rents for $675Total rents of $2875Owner pays some utilities at a cost of $8,800/ yearHere's what I got running it with the BP Rental Calculator (as self-managed):-Purchase price of $250,000 (I did estimate of $300k ARV price)-25% down: $62,500-Amount financed: $187,500-4.5% interest: P&I of $1,042.19-Capex: 7%: $201.25/mo-Maintenance/repairs: 7%: $201.25/mo-Vacancy 5%: $143.75/mo-Property taxes: $191.67/mo-Utilities: about $733.33 mo-Insurance: $220/moNOI of $14,209Income $2,875.00 - total monthly expenses (including debt service) $2,733.10 = $141.90/mo cash flow and 2.64% COC with a purchase cap rate of 5.68%.I told her I must be missing something, and she asked if I “had the NOI at $21,662?”

I paid it off and gave my lady a life estate.. same kind of numbers it was a 250k house she owed 40k but did not want to move.. so I paid it off let her live there Totally free she just paid for her utls.. and she made it about 10 years.property is now worth about 750k.. so not a bad deal for us. we are building 3 homes on it now.so stroke a check and let him live there for free for a number of years and do an equity split down the line. other wise really the best for him is to let it go and get overage as his credit is toast already the BK will buy him some time but it will cost and he will end up in the same place.. maybe make a few more dollars. 

Jim Cramer among others are predicting 1 million per coin so get ready for a wild ride. 

be sure to calculate all costs, so you know what you'll actually haveget your home ready and put it on the marketonce you get an offer, counter with a higher deposit for protection and a completion that suits your needsnow go into the wild and find your new homeonce it is found, secure a completion that is before yoursif the buyer of your home bails, you'll have the deposit as some sort of security (on a 300k home, 15k is reasonable)Alternatively, you could simply flip a few of those steps. 

generally a waste of time.. but you can always ask.. lots of work with probably more money owed than what you think. and poor lady is probably more stubborn than you think.. and she will probably call 10 I buy homes for cash people and work the best deal she can.no equity sub too is a terrible play in my mind.. why do it..

Seems odd to take a buyer walking in with $ locked and ask them to wildly change. 

Ladies and gents,I am currently grinding out the required hours of education with the somewhat overly optimistic goal of being at least ready to test by the end of my college semester so I can dedicate all of my time to being an agent.

I called the Sheriff's dept again today and talked to a very nice lady.