You need to be sure that when the seller is attempted to be talked out of selling their house below market value, they stand firm with your offer and say "No, so and so, has been very helpful, they are walking me through every step and are taking this burden off my hands".

But even if I stand to make the same about in 5 months after I refinance it ?

Just can't stand the thought of renting at this stage of my life.Oh almost forgot.

Just can't stand the thought of renting at this stage of my life.Oh almost forgot.

BTW ... pay off your debt but keep good standing credit accounts open.

Agree with the others that the existing leases stand.  

If you combine avoiding closed cities with MSAs that are growing and/or have more tax/business friendly outlooks and invested outside of them you stand a good chance of making some money.

The main reasons I am not in the pawn shop industry today is I don't want to stand behind a counter 8-10 hours a day and I don't want employees!

This property would not cash flow standing alone. 

My LLC is in Virginia and I invest in about 10 states and register my LLC in each of thoseTypically what they require is a letter of good standing from your “home state” - a fee and you have to have a registered agent in that state.