It took faith, planning, and courage to make it happen, and I think you can do anything you truly put your mind to.

Right now I'm living in a rehab-in-progress (A gem of a place near Lawrenceville that looks like a pepto-bismol salesman painted it and had two bathrooms upstairs that resembled ol' faithful when you turned the faucets on).All that really means is that my wife and I are knee-deep in sheetrock, power tools, and have a backyard full of busted bathroom covered by a tarp.

My father can do or coordinate all the repairs himself.There is an HOA fee of $64/Mo for a pool and clubhouse.I'm looking at 68% * $249,900 (low end FMV) - $10,000 repairs = $159,93270% * $249,900 (low end FMV) - $10,000 repairs = $164,930Although my agent might think it is too low (she tried to get me to go in w/ $180K but I stuck to my guns :protest: ) , I'm going with everyone's advice on here.I am starting my offer at $156,475 and will work up to $165,000 max.My realtor is having me get a Pre Approval for $157,000 (already have one for $200,000) and a $2000 Good Faith check to strengthen the offer.Using Wheatie's spreadsheet he used for another person ( I hope that is ok :lol: ), I came up with this:2 year Rehab worst case$165,000 Purchase Price $3300 2.00% Purchase Closing costs $19,200 5.75% Interest $4,200 Holding costs (24 Months of mortgage principal payments, right?)

As an act of good faith and to demonstrate the seriousness of his interest, he offers to send you a cashier's check for the entire year's worth of rent up- front.Sounds great, right?

The truth is that our currency is backed by nothing other than the “full faith and credit” of the US Government.

If your prospectus isn't getting the investors, you need to work on your business plan until others can see how it is going to succeed, and not expect people to just jump on faith.

If you put your faith in government statistics, you are in for a rude awakening, they are in the business of covering their butts, and have absolutely no interest in telling us the truth about prices and wages.

I plan on a telephone conversation to make my offer & mention the contingencies I require, then, if accepted, following up with a Letter of Intent that puts in writing the details (including the subsidies he's offered and the good faith deposit I'll provide along with a signed/accepted P&S Agreement).Finally, as you suggest, I'll try to get a referral to a R.E. attorney.Thank you SO MUCH for all your help!

What happened to a contract properly negotiated between parties, written in plain English, for all to read and sign in good faith?

I respect your faith, and like to believe in the good in others as well, but I learned a long time ago that if you listen to what people say, and then watch what they do, if the two don't line up, trust what they do as the right answer.In any event, I wish you nothing but the best :)