I had a Contractor who started out great proposed a lot of good up grades but started slacking.

Yep these properties are always offered and some unknowledgeable investor will think they are getting  great deal.A few years ago, my son found one of these tax sales properties that was controlled for years by one investor, he forced the cancelation of the tax certificate and offered the city $30,000 for this commercial property, after a few attempts, the city accepted the offer.The property now is worth over $300,000, it has  two large apartments and a store on the first level.Talk to the right people in the city, present your proposal and they may accept it.Good luck.

If your reason to change the zoning is compelling enough, a win win for you, the city and the neighborhood, then you could make a proposal to the city that they do it for free or give you some sort of tax credit which equals the amount or greater.Look into it.

In MA there have been some screwed up foreclosures and legislation has just been passed to correct some of the issues.I am working a case right now where supposedly the foreclosure auction was held 5 years ago but never recorded.

All Landlords are welcome, we share information on rentals, evictions, legislation, property for sale and other issues and problems that we encounter day to day.

@Chris Sukala, Option 5: once you receive $52k cash, buy a DIFFERENT home for 30k, (put ~$25k into it) with 25% down and finance the the rest.This turnkey you are proposing looks to be about a $15k WORSE deal than your first one.

Give me a shout directly to discuss this interesting proposal you present.

Legislative Updates & How They Affect Title to Real PropertyThis month 6 Feb our title company sponsor Martin Garcia, Vice President of Texas Secure Title will be speaking with us about the latest legislative updates and their impact to real property.

This probably isn't newer construction (post 1995), so my experience leads me to believe that a $15k rehab is probably not realistic OR that more work is required than proposed in order to get the $120k ARV.If it's the Castleton house, I think you've left off money for updating the landscaping, updating light fixtures, redoing the basement, kitchen appliances, etc.  

If he has the skills I'd be tempted to at least take a look at what he is proposing.