To be honest, I'm not exactly sure how much money I would lose, purchasing a home is a very emotional thing for my, my wife and I find it really hard to get honest answers or comparisons from family or colleagues about how much money it would set us back, so I am only assuming the worst and hoping someone here can advise.

Mark ThomasI wonder if they have given us all the exact same story line???

.👀 Risk ManagementBoth investments require risk management:Stocks: Company performance, market conditions, economic factorsReal estate: Property maintenance, tenant quality, local market changesBut guess what?

The "typical" off market seller is someone who thinks their house is in too rough of condition to sell on-market, but doesn't have the money to fix it themselves.  

You can't actually pay it off directly because they've been securitized, and the people who invested in those securities did so because of the specific certainty of the payment schedule.What you do in a defeasance is use the proceeds of the sale or the funds from your new lender to purchase treasury bonds that are packaged to make the exact payment amounts and timings on the remaining term of the loan, and then assign those bonds to your old lender.

Additionally, I don’t know exactly which county you’re considering buying in, but some around here don’t require permits… yet… but I think that’s coming.

Quote from @Cameron Moore: Exactly. 15 years ago, I noticed an increase in owners using insurance to pay for a replacement roof, usually to sweeten the pot during a sale.

Purchase price: $240,000 Cash invested: $60,000 I purchased this duplex in distressed condition using owner financing for $240K and secured a $60K hard money loan for renovations.

Thank you - I was curious about the general market conditions for RE investors at that time.

After you find a great realtor, I do recommend getting pre-approved asap so you can be qualified for financing and know exactly how much you can afford for a property.