Investing is cautious because of so many without jobs and moving to work leaves many rentals not full and older neighborhoods with many homes on the market. 

Be very cautious with only 2 comps, and never assume you can get an accurate value from only 1 comp.You can try to get an approximation of market value by looking at sites like Trulia and Zillow but the problem is those sites often don't show truly comparable properties - they are often not too similar to the one you are trying to value, are very old, and/or aren't really in the same area (even though they might be within X miles, neighborhood boundaries really do matter - 1 mile in one direction doesn't necessarily equal 1 mile in the opposite direction!).

With prices up by that much this quickly, I'm sure you guys can understand why I'm being cautious about jumping in without checking the temperature of the water first!  

I would be extra cautious about verifying that you really want to own this property and not let the "great deal falling in your lap" cloud your better judgement about the real value of this property.

He will stop all the BS real quick if you leave it in the neighbors handsOf course simultaneously file for eviction and be very cautious with how you approach the neighboring tenants if they are late with rent in the future.

I would have to agree with the comments about being cautious.  

Unless they have provided you with a detailed break down from their general contractor I would be cautious. 

Hi @Ve'Ron Hall.People care about financing and neighborhood as well as the house.Craigslist and Postlet something like:Owner will finance this property:Description, location, terms.Be cautious with Dodd Frank advertising exact terms as RMLO needs to disclose the exact terms.

If that were the case, then I'd be somewhat comfortable as it just means they are nervous that if their home doesn't close for some wacky reason, they can't afford yours (although that would be covered under the loan approval language, I would think).They can't really say they waive all contingencies if they are asking for a huge contingency of selling their home first or their lender won't qualify them unless they sell, so just be cautious as what they are really doing is transferring their problem to you, as they want to know they've got a place they want if they sell, but still have their own house if they can't sell it for what they want, win-win for them, trouble for you.

I keep hearing that openness , sharing and helping each other is encouraged in real estate in general , but I come from a very skeptical , cautious background so I'm wondering what is the limit in real estate ?