There are other items inherited so we can haggle a bit but I need reno dollars and some to buy them out.HI Joyce,1) I dont see any downside of converting into a rental you can create some cashflows out of inherited assets2) not a CPA however you inherited them so they come to you a stepped up cost basis based on the date you received these properties so you should technically have any gain unless they've gone up since you took legal possession of them and even then its probably margin increase in equity if your award was recent.3) Financing these properties will be easier if you have long term leases otherwise lenders will just look at these as liabilities this is why you may want to get in place long term leases first.

On April 12, 2012, VA awarded the property management contract to Vendor Resource Management (VRM).When I tried to contact VRM,  it sent me to a sales site offering a "free" cruise on Holiday cruise lines, starting at $118 and going on up to $1195, depending on how much "free" stuff you wanted to pay for.  

Sorry but I do not believe in participation awards.

Homeless people have done this here in San Francisco.I'm not sure if it's an urban myth or not, but I heard that a group of homeless people, after living in a four floor abandoned building for 10 years, went to court, claimed adverse possession and were awarded ownership of the property.

One that is not awarded yet.

However, if you go this route, I will advise you that most states award deficiency judgments (the amount owed on the note less the profit made at the foreclosure sale).

Neither party shall have any rights in or to any award made to the other by the condemning authority.18.

Being awarded a deal at $3.5mm versus an ask of $5mm likely means there were no other bidders. 

@Albert Bui @Carlos ValenciaThe answer is yes you can have another FHA loan simultaneously (2 fha loans) if one of the 4 exceptions are met 1) you were a cosignor on another's FHA loan where there were multiple coborrowers, 2) family size increase and need to do so, 3) legal award or separation by court, 4) relocation due to employment.If you're also moving out of the FHA property due to one of the above to use rental income offset or 75% gross lease calculation you'll need 25% equity (buy another appraisal report) and you'll need to be 100+ miles away (100+ mile rule).There are ways to avoid the 100+ miles rule however you'll have to plan ahead.Also if the above property is 3-4 units you'll have FHA self sufficiency rule as well so plan your cards accordingly otherwise find yourself with triple stack of rules to pass.

Last year, they changed directions and awarded the contract to Linebarger Analytics and Information Services.