Me knowing that this home is over 50 years old and has not been upgraded one bit ( still has popcorn ceiling) I was able to find an investor to buy the home and plate a bid at $1,625,000.

It is also common that a LOI is not binding.You CAN, in a lot of cases, use the local Realtor board boiler plate contract and add an addendum that clarifies or adjusts the verbiage.  

:I'm not saying this is a regular occurrence, I'm saying that this situation is worth being examined and that there is possibility that homes that are out there sitting for years with no one doing anything about them, maybe the banks have they plates full to the point they aren't putting the time or feel the mortgage isn't a priority on their list anymore.

Never use a seller's numbers, yours will likely be different, if nothing else, by inflationary costs, taxes go up, insurance goes up, utilities will go up or the usage won't be identical, some seller's numbers put you in a ball park, usually in the parking lot, not at home plate.

I have a mobile home with a HUD plate that has no record with the TDHCA.  

@Christy Harris  Orygonians don't like CA because they blame then  ( US) for running up the values of property by paying to much... and raising tax's and crowding the roads etc etc. this has been on going for 40 years LOL.. and my adventure in N> WI with IL plates almost got me shot.

There was another issue of misrepresentation present, but, fortunately, it was spotted by the home inspector: several new electrical wall plates covered old electrical boxes.

Most busy professionals already have enough on their plate without managing rentals.

Again, I have not read the book.)If I did not already have a full plate - and liked reading - I would certainly be ordering the book now.

I'm hoping me taking them off the builders plate, this them becomes a better deal for them.