WorthQuiet, older neighborhood with lots of rentalsAsking price $48K, was marketed as a triplexI offered $30K cashDOM 7They countered $40K cash and a short closing date(10 days)I was able to do my own inspectionsDiscovered 4 kitchens and 4 bathrooms.Needs trees trimmed, roof, minor interior repairs and cleanup.Should be worth $80K-$100K when finishedI uncovered a city lien against property for grass cutting(they had to pay for)During title work a federal lien was uncovered(they had to pay for)We closed on the last possible day at 4:00pmObservations:I used a buyers agent to represent myself.

A "roof over their heads" is about the minimum a tenant expects for their rent.THE reasons I want these shingles is because they are SO nice looking, AND they have a high reflective value.

thanks everyone for all your input and for being so nice!

Ahhh, that sounds so nice, I call it "controlling"… so I have been told.

Y'all are so nice.

Simply checking with the local landlords (and seeing this done in my own market) quickly uncovers this.

Now, some states have different rules for whether HOA liens survive a foreclosure, and you will have to uncover what those rules are for the state where the purchase lies.

What I don't get here is that if you are cash flowing so nicely, why sell?

Those little things add up fast,,,and hidden must do's are uncovered every day.

The street it's on, I would say, divides a not so nice part of town from the best side of town.