Keep in mind that those who take the buyout will get 8 months of income, so I don't see that as being a factor in the next 12 months for them. 

.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!   

As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

Instead of paying down someone else’s mortgage, you’re setting yourself up for bigger and better deals down the road.Your first deal is going to depend on a lot of factors—how important is location?

In evaluating seller financed notes, there is always a balance between redeeming and non-redeeming factors. 

I live in a rural market and this type of issue with technology may not be as big a factor in urban areas.

@Alex Messner, your decision, amongst other factors, mainly depends on you and your wife's financial profile. 

An audit could be triggered by a number of factors that don't line up when run through the IRS's system, and create an exception.

Note that the diagram doesn't consider tax implications—that's another important factor you'll need to include in your decision.