Well then could we have a example of defeasance, maybe such as a Bob and Ted story?

If it discharges 5 foot from the building and there is a low spot running back to the building, then it is going down hill back to the building.

He asked me to fix it up and sell it, and then he'd let me keep the profit.

I am exploring the possibility of purchasing an off market plot of land, building a modular home, and then selling it.

After it closes, if he then gifts you back the profits, now that could be a second gift from him to you. 

I would consider the returns you have now - then run a different scenario where you put that money in a basic S&P 500 tracker.

If the credit screening costs $25, then you earn nothing.I believe there are exceptions for a higher fee, but you have to stick to the actual cost of the screening.I would talk to an attorney before charging more than $25 per applicant.

Then I’d list it occupied but I’d give the tenants notice now.

Purchase price: $130,000 Cash invested: $9,000 Sale price: $185,000 I did not have the knowledge then to keep the property and pull money out to complete renovations to another property we purchased a year after this one that required a complete overhaul.

When you go inside, the floor is level, then as you walk closer towards the kitchen, the floor starts to slant.