Bonus tip, record the incoming calls so you can get a good chuckle out of all the threats to call the FBI for mail fraud.

This is a property that was in mt family that i have always wanted to buy.My wife and i got the opportunity to purchase it, rental unit was an extra bonus.

Garage is a nice bonus on these. 

Also, you will save on the broker fee (just a bonus).

Please let me know what you think.Property SummaryForeclosure3BR, 2BA, 2190 sq ft2 acre lot$65k asking priceARV of $165k (possible), most likely $150kNo garageSlabVinyl sidingWell & SepticProperty is owned by HUDLed based paint noticeRepairs NeededSpot replacement of vinyl sidingFlooring throughoutBathroom remodelsKitchen cabinets are good, but need to be paintedPossibly roof replacementFacia board replacement all aroundGoodHouse has a bonus room, which can be converted to a 4th bedroom.Windows are goodFlat lot, big lotBuilt in 2005, so pretty structurally soundRisks/ConcernsPossible HVAC replacementHas a well.

There is no help for us when we move, there is no family/friends to stay with or that would be a huge bonus.

Bonus if it can be turned into an educational how-to guide.The resident can either pay out of pocket for any work needing to be done, or they can let the GNA cover it in exchange for direct principal payments off the original market price purchase.Make a simple guide to what needs to be done on a regular basis, and establish a plan for what the resident can handle, vs what the GNA provides.Create synergy with kids and grandkids to accomplish common/ regular tasks.Opportunity for daycare/ day camp, or even homeschool type services.Opportunity for future continued business partners to take over living on the residence.Preferred scenario, resident pays for material and professional labor, and the GNA provides cheaper labor for easy tasks etc.Residents may pay part of the labor cost, but ideally if the GNA has cash to pay internal employees, then those costs get applied as principal payments.Explore options that let GNA employees trade time for ownership of that specific property, instead of traditional pay, or use it as an overtime bonus.Find ways to incorporate local artists and craftsmen, and make unique projects that incorporate the story of the house as told by the resident.

Bonus: a loan isn't a taxable event, so you don't pay any taxes on that $27k.

Tenants have had to live an entire month on savings at this point.They lived off savings, but now they have their unemployment checks, plus the $600/week bonus, that is paid from the date of their claim.

Or, they may be able to buy a much larger property and take bonus depreciation and offset all the gains with new losses.