Hi @Terrence Manderville, I recently closed on a couple of similar transactions and I was really satisfied with the attorney I used as she has extensive experience in these types of transactions.

@Quinton Childs As I said earlier, of course you can't say definitely he'll take your offer or level of motivation until you meet with him, but if the repairs are extensive you need to make your offer accordingly.

I had a chance to look at the house before it even became foreclosed - extensive updating is needed, and there's a problem with septic, disclosed by the owners at the time.Of course, the problem with sitting and waiting for 2nd reduction is that it might get much more attractive to everyone else, including investors.

I'm thinking about upgrading the 0.5 bath to a full, and adding about 500 sq ft extension to the back of the house.

I’m guessing you needed more time, hence the reason for the rate kick extension fee.

I'm hopefully moving to Jacksonville later this year and have been looking extensively all over FL, especially in the J-Ville area.

A friend of mine and myself have discussed real estate extensively.

Take advantage of all the free resources this site offers you such as the blogs, podcasts, articles, and the extensive networking opportunities that are available here on BiggerPockets.

@Tyler MartinWith fha financing are you able to purchase properties that need “extensive” work?  

I too have been investing extensively in Alabama and only recently came upon your expertise.