The bathroom has the circuit breakers / electrical panel in the shower.

Electric gas and water were all on, gas and water meters were not spinning so Id assume no major leaks.The grass around the water spicket was 4x as high as other areas, so id assume it leaks or they left it on hooked up to a hose or something.I did not go in the house, but the electrical was breakers not fuses, wasn't a federal pacific box, those are the big issues with this area and its free of those. 

If all else looks good on the property and you've negotiated good terms, this is not a big deal breaker.

If you insure @150k, have curcuit breakers and a decent roof, your premiums should be closer to $50-$60 per month.

Hillman tried this method and won the case to the extent that it did not improve his financial position, but the tax court disallowed this income conversion method to the extent that it lowered Hillman's tax liability. http://caselaw.findlaw.com/us-4th-circuit/1214577....Simply redirecting income to a different type of entity has no bearing on the economic substance of the transaction. 

All too often, new investors either overdevelop a property "because it'll look better" or spend their money too fast; by doing this, they short-circuit themselves and are unable to pursue their goals.  

That is why you disconnect the main breaker...

Many new investors start off "hot", and they end up either overdeveloping their first property or they spend their money too fast - either way, they short-circuit their plans and end up sort of scuttling both their short- and long-term goals.

Many new investors start off "hot", and they end up either overdeveloping their first property or they spend their money too fast - either way, they short-circuit their plans and end up sort of scuttling both their short- and long-term goals.

Many new investors start off "hot", and they end up either overdeveloping their first property or they spend their money too fast - either way, they short-circuit their plans and end up sort of scuttling both their short- and long-term goals.