If you need to lay out additional cash expenditures (deferred maintenance), the 1.5 calculation no longer applies as your "cash in" is higher.I would offer more in the $150 - 160,000 range and get closing costs included.

Perhaps as Bill indicated an option contract could work but this is an area I have no experience in. I

Short sales can offer 'deals', but there can be a lot of uncertainty and it's not always appropriate for a home buyer, especially 1st time buyers.A home you're going to live in is an investment, but that's not the only consideration.

It was difficult trying to project Steve Job's views without my own bias sneaking in. I

I really like the house and it will likely appreciate in the neighborhood it's in. I

(I would also pay a small amount of interest each month during the rehab until he can move in.)I really see this as a win-win for everybody.

With all due respect to "This lady" and the other ladies, I am in a peculiar situation my wife has put me in. I

Oh, and the area the home is in is fairly decent..its in the inner-city..i havent actually went by the property, and i dont wanna label it as a war zone..cause here in st.louis..some parts of the city will be i quiet neighborhood, and 10 blocks over would be a war zone..help!!

What state are you in? I

Richard Evans That's great you were able to jump in!I