He wants to stay.Its 107 year old house (2/1 + 1/1 side unit) on .5 acreSo what I did:Called my bro-in-law who owns his own pest control biz and lined him up to take care of termites for meAs FHA loans would not close due to termites I watched DOM tick up-up-up-and up.Now kids are back to school and people are settling in for the cold harsh brutal California weather we are famous for. lolI then made an offer at 175K, cash, & caretaker gets to stay at current rent.

That's right - there was a famous case in France (Jeanne Calment) a few years back where an investor made a deal with a 92-year old lady to purchase her home for a good price in exchange for her right to live in the house until her death. 

Sorry if I misunderstood, and forgot, I did pay water at one property as we had a coin op washer dryer there, separate elect. , it covered the water bill +. :)

Reminds me of a famous Desiderius Erasmus quote.

i guess i misunderstood in the 3rd post it sounded to me like he was going to sell the house but tell the insurance company that it was rented so that the mortgage would not know that it was sold i guess i read to much into it yes john if the new buyer buys insurance everybody is covered my understanding was matt was going to buy the insurance and charge the new owners a little extra

I have often wondered why people invest out of town (especially new investors) without making the relatively small investment of visiting the actual property they are considering.Besides, if you make the trip, you can make a detour to Niecie's for Chicken and Waffles or  LC's for some world-famous barbecue.

I think you misunderstood the post perhaps?

I think I may have misunderstood what PR means.  

Sorry I obviously misunderstood what you meant when you said you rent them below market.

(he's famous on BP....retired at age 32 after 7 yrs RE investing....search for his post elsewhere), and you both have skills to make it work.