I was wondering if it is an advantage or a disadvantage to have renters already in place?

there are some disadvantages to this sometimes on your basis in the property for taxes.As to how you can legally sign leases etc now, get a limited power of attorney to handle all legal matters concerning that property.

Also, the Seller is never negatively impacted and your reputation remains sterling.The disadvantage is that you would have to make the payments on the 1st until the foreclosure was complete.The key to a ST deal is to have a good Disclosure signed by the Seller - and keeping the loan current.Hope that helps.

Purpose: Section 203(k) is one of many FHA programs that insure mortgage loans - - and thus encourage lenders to make mortgage credit available to borrowers who would not otherwise qualify for conventional loans on affordable terms (such as first - time homebuyers) and to residents of disadvantaged neighborhoods (where mortgages may be hard to get).

The disadvantages are many though: when it is forwarded to my personal cell and goes to voice mail, it goes to my personal voice mail instead of reverting back to the prepaid account's vm; it means having another cell phone; and I had no choice in picking my number.

Assignments and double closings each have their own advantages and disadvantages.

There are advantages and disadvantages to section 8 participation just like everything else.

Hope for the disadvantaged communities the project supports.

Winter is always such a dead time anyway that I can't see any disadvantage to waiting.

There are times when it is a huge advantage, and times when it is a huge disadvantage. :D