Investment Info:

Single-family residence fix & flip investment in San Antonio.

Purchase price: $135,000

Cash invested: $48,550

Originally purchased to buy and hold but may fix and flip

W...

Outstanding!

Before any future tax refunds or stimulus checks are sent, the government applies money to the outstanding balance.

@Rhonda Davis OUTSTANDING!

Even if you send requests to apply some don't.To make sure you don't get into trouble (Fair Housing Laws) determine your criteria for what you are looking for in a tenant: 3x income, no evictions or no outstanding collections to landlords, no criminal cases or misdemeanor case ok, minimum credit score, etc.

Type of neighborhood, access to highways & shopping/entertainment, all the utilities that will be included (even if they seem like little things) and any services you might offer as the landlord (Snow & lawn maintenance provided, 'FREE Heat', etc).

(All rough estimates based off comparable properties in the area... and coming from a newbie, myself... so might be less.)THE ISSUEMy father owns the duplex outright with no outstanding mortgage or liens from taxes. 

On August 13, 2021 (45 days after this law was enacted) a landlord may terminate or not renew a lease for those with outstanding rent who are ineligible for a COVID-19 emergency rental assistance program (such as RentHelpMN.org or the Zero Balance Project).On October 12, 2021 (105 days after this law was enacted): a landlord can end a lease for any legal reason, with the appropriate written notice if required in the lease, or the written notice required under MN Stat. 504B.135 (tenancy at will).

I have a ton of pre-foreclosures in my area, but upon screening the court files, it appears the debt outstanding is right around the ARV or market value of some of these properties.

On paper, the Houston property looked outstanding.