@Leslie Pappas should be ashamed for pushing this dreadful investment to anyone on BP that says "I have XXX dollars" and want to invest it in real Esate.  

It is a shame that so much equity would go to waste otherwise. 

I appreciate it. a shame 

It's a shame that this thread has moved toward a tit for tat, less than productive exchange and hopefully none of you will choose to attack me as well?

I'm embarrassed to say but not ashamed I've been on house arrest for the last 9mnths for child supportI have it straightened out now with a clear head on the path I wanna take I just have to wait till the 24th to get rolling. one concern i have is, is weather against me i live in Wisconsin.

It is a shame that someone would advise a potential client to commit a felony to save a few dollars.

The house is worth north of $150,000 so to let Wells Fargo have it would be a shame.

You need to also take care of the following. 1.Fixing up a vacant rental so it can be rented out again.a.We had handy men to do most of this, but with 40 rentals my husband and I had to pitch in a do the labor ourselves as well.b.I would paint the house and garages.c.Husband would fix the repairs inside2.I would take care of the tenants.This entaileda.Taking care of advertising the homes (usually we had more than one vacancy at a time)b.Taking phone calls and screening tenantsc.Scheduling open housesd.Staging the housee.Interviewing the applicantsf.Making sure I double checked their application formsi.Criteriaii.Employersiii.Verifying funds and income3.Typing up the lease and making sure they understood the lease4.Then making sure the Tenants abided by the lease agreement5.Paid their rent on time6.And sent that Notice to Quit for Non Payment of Rent the very first day rent is late.On top of that I did my own evictions and I never lost a case and I dealt with the 36th District Court in Detroit.I won because I covered my butt by having everything in writing.I documented everything.Every phone call I made to them and every phone call they made to me.I never complained to a tenant because they called regarding a repair.I listened when they told me they couldn’t pay their rent, but even though I understood their problem, I made them pay their rent anyway.Landlording is about making tough decision and doing things you don’t like to have to do.Landlording is a Business.You have to not LOVE YOUR HOUSE.I can’t stress this enough.If you don’t know or understand that this is a business of evictions, damages, and injustices, and fixing this house up over and over again, you aren’t going to be happy let alone successful.How I wish I could be there for every new investor to help them understand what it’s like to be a landlord BEFORE YOU INVEST.But I can’t and that’s really a shame because it something every new investor should dig into before they invest.One last thing.

It's a shame; I think it would be a good property.

Hi Jeff, I guess I was too ashamed to of fell a victim to a rouge property management company and home owners local scam that this is over, Let me just clarify things a little, I was going to invest some monies I came into in a residential property and with he belief that a good deal on a home along with the turning of the tide in so far as property values going up, I gained a good chance at getting into a home with a 5 year time plan to invest in its value, upgrades and savings on rental money I would have been throwing away, lead me to a deal i found on craigslist, seemed all legit, licensed agent, under a licensed broker seemed ok..a purchase of a home for a $3,500 down payment $300 over rental market monthly and the owner caring in his name until I placed in my sons name as we were planning on entering first time home buyers with his unblemished credit and his job history and monthly take home with no credit or no bad credit he was the perfect candidate  for the program and I informed the agent of all these deals before and she came back in agreement to my 1 year maximum time down from the advertised 3 year agreement...I said we would start this purchase within the next few months and she new this and said owner agreed to it and proceeded to send me the contract to sign, and I had already seen the example contract posted on this website that craigslist directed you to look over before calling..and I did..I examined the contract and determined it was what I wanted , an contract to purchase not a rent to own rental...There was an actual purchase agreement on line...and when I was signing this contract electronically, it appeared same, in every way, the places that required input were highlighted in red. so that looked to be the only changeable places and they were as stated.Only later when they began the hounding constant pressing, the owner popped up on my email afterwards, they wanted payment for everything under the son, I mean everything even when i learned the owner turned the power on the same day i was to move in, and the agreement said it would be on for 5 days before we have to transfer service service, i transferred service same day, took the 5 days to complete and i sear the first month I was hit with a bill for $890 additional monies and it wouldn't stop.