I did have a bpo agent friend go there already and he said it would going to be a gamble to rehab and sell but to put it back on the MLS he thought it would sell at $60k due to the land prices there.

The only way it makes sense to drag it out is if his father is making a greater than 3.2% return on his cash.So the interest deduction is not really a bonus, it is simply just convenience for when you do have the loan.

But i'll admit that life has it's gambles.

The location is very convenient and the school is almost top-notched.

I would be a train ride away and also have a car, so its fairly convenient.

I want my profit NOW, not the hope of profit in a year or two.For gambling, I like Las Vegas.

Employer Trend: Correct me if I wrong, but isn't the gambling industry (and all its subsidiary business units like entertainment, hospitality, etc.) the largest employer in Vegas (most likely followed by construction and then the convention industries)---if this is the case, the industry isn't known for employee enrichment/income advancement.

:crazed: I know it seems crazy to you now, but if you stick with it there will be a day when buying a house is like buying a pack of gum at the convenient store.

If he doesn't pay the rent, and you have to evict, he may conveniently forget what a great deal you worked out at the start of the process.

I especially liked the convenience of the tues. nite meeting I am missing.Eric