I see there is old glue residue on the basement floor.

Right now my top options are to hold it and pay it off for residual income or sell it and use the equity to go towards a flip.

I had no knowledge of passive or residual income until my mid 30's.

I've seen so many newbie investors end up buying land that is unbuildable only to have sell it later at a steep discount once they realize they can't even afford to keep up with the taxes needed to keep the land.For future readers, one common way to evaluate and price land is through the Land Residual Method, which is pretty much a simply formula:Land Value = Developed Value (highest and best use after development) - Cost of DevelopmentIt requires a little work on the agent's part to dig into what the costs and potential developed value will be, but I wouldn't consider it rocket science.

I often wonder if they were ever affected by the 'bomb' chemical residues as they apparently never bothered to steam clean the carpets or even have the vents cleaned.I recently saw the home again after the current owner gutted the lathe & plaster to upgrade the insulation, electrical etc.

Hello all,I joined BP not too long ago and have been reading posts trying to learn as much as possible.My goal is to buy and hold investment properties and create residual cash flow.  

If you are an Independent Marketing Agent which work part time for us then the pay is very different range around $500-$700 per property plus 15% residual income from management fee for 5 months.

The residual amount that you project for cash collection is borderline, or just above the profit margin and might even be headed in a negative direction.I sense that you are caught up with the family aspect of it and believe that you must satisfy their request. 

thanks for sharing, great news always leaves a residue of hope. 

The glue and residue was gone in about an hour.