But after working with the family, we purchased it for $42,000 and got to work.We had some unique challenges, like dealing with one of the heirs who wasn’t very cooperative and required a payoff to sign the paperwork we needed for clear title.

Duplexes are a little easier than 3-4 units with FHA since they don't have to meet self-sufficiency requirements.

STRs can bring in higher revenue but require more turnover, guest management, and keeping up with regulations.

As you alluded to, sometimes a passive note investment purchased for monthly payments “goes south”, and becomes an active participation investment, with plenty of additional capital required for legal fees, forced place insurance, and property taxes.  

Factors Behind Supermarket ClosuresSeveral key factors contribute to these closures:- Aging Infrastructure: The 20-year-old store requires significant renovations to remain competitive.- Loss of Alcohol Sales: Price Chopper previously sold alcohol but stopped in recent years, potentially impacting revenue.- Triple Net Lease Costs: Rising property taxes, borne by the tenant, add financial strain.- Increased Competition: Discount retailers such as Walmart, Target, Aldi, Dollar Tree, and Family Dollar provide alternatives that attract budget-conscious shoppers.A Closer Look at Worcester’s Retail LandscapeA brief examination of supermarket properties in the area highlights financial and logistical challenges:- 29 Sunderland Road: Built in 1960, this 46,050-square-foot property sold for $4.1 million in 2022.

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

Can they get pre-approved for a conventional loan and then switch to FHA once the 91-day requirement is met?

Then find out from a realtor broker or attorney what the disclosure requirements are.

Many lenders require buyers to occupy the home within 60 days, so confirming the lease timeline will be important to attract the best buyer and the strongest offer.

Verify income: Always make sure they make 3 times the money required monthly for rent.