You care about recent comparable sales, if any, but you also care about cap rates and income.My $0.02...David J Dachtera"Success is not a destination.

Only the surplus - if any - could be taxable, depending.Contact your tax professional (I'm not one) for a complete explanation.David J Dachtera"Success is not a destination.

There's no excuse for ignorance, though.I also have some pet causes among the local schools and such to which I wish to donate from that pot, not to mention animal rescue, veteran's housing and senior care (since I'm 61 now).David J Dachtera"Success is not a destination.

Again, ask your financial professional (I'm not one).One of the leaders in my investment group went that route to acquire a bundle of 49 REO properties in one business venture and some 70 or so more in another.David J Dachtera"Success is not a destination.

@Will Bert,A lot of people have been chewed up and spit out by the job market as a result of the economy, especially in the time frame you mentioned.If due diligence leads you to believe they are trustworthy even with their history, I'd recommend compassion.My $0.02...David J Dachtera"Success is not a destination.

David J Dachtera"Success is not a destination.

David J Dachtera"Success is not a destination.

Hi All,I'm looking at a Single Family Home in a beach vacation destination and trying to run the numbers.  

My wife and I are looking to buy a primary residence and we are looking in specific neighborhoods within our destination city in central Texas.  

I look forward to cruising this site to expand my knowledge and hopefully build some connections.