It seems to me that someone is locating a property that has potential for a rehab and a great profit, attaining the rights to the contract, and then selling the contract to a buyer who is interested in taking on the project of rehabing the home.

If you'd like them to move in, take a deposit and filled out application on the spot.Always find a way to get the contact information, minimally a phone number.

@Dick Rosen I tried using a VA to take the first intake call.

I've always been a head-strong 'do it now' kind of person, and it's worked for me; but I'm seeing the major benefits in taking care of the other things first.Rachel: I'm doing the best I can on here to find an experienced investor in my area.

Update - we at at impasse and have not agreed to current owner terms - however one of our friends who has more experience is interested in taking this on.

You can also hire a title company to handle it for you but you'll pay hundreds of dollars for that service.Once you have it filled in, take it to you county recorders office, pay the fee and it will be stamped and recorded for you.

@Rahul SinghCash out refinance your primary residence and rent it out, move your family and rent the location in the area you want to live in, take the tax free capital from your primary you just refinanced and invest that $$$,$$$ into a investment property in a location that makes financial sense.Frank

We chatted for a little bit longer and I told him I was interested in taking a look at the property and would love to set up an appointment to see it.

However, since the incident happened in the past and this has gone to collections, your time and energy may be better used in taking care of the collections issue, as others have mentioned.

Be sure and do a detailed walk-thru with a qualified agent of the company before anyone moves in (take pictures, note any defects, state that 'everything is in good condition unless otherwise noted').