Sounds like a challenging situation all around I would  not cancel the deal, but if he dies and it goes to the estate and probate you may want to start looking for something else just in case...Best of luck. ...

What's your biggest time management challenge?

Whoever is handling the estate needs to contact the servicer within 90 days or they will generally start the foreclosure process.

the midwest has lower price points than other areas of the US, sure, but it also comes with its own challenges - for example, very old housing stock, lots of deferred maintenance, and tremendous demand for the best properties."

However, proving material participation with a full-time job can be challenging, especially if tasks are outsourced, as the IRS scrutinizes such claims.

As the investor gains experience, they are not only able to more successfully foresee the “bumps” along the way, able to handle recessions, temporary negative cash flow, unforeseen capital expenditures without panicking, but will also recognize the opportunities necessary to turn a loss into a break even.

It comes down to how each county handles property tax valuation.To put it in generic terms - a title company & lender will base your initial mortgage payment on the property taxes of the previous owner.  

Challenges?

Hi Kris,It sounds like you’ve got a great property under contract with a solid entry price, and the only challenge is the interest rate of 7.125%.

Unfortunately, the end of 2024 has brought a string of financial challenges for my family, and I’m feeling the pressure.Two weeks ago, I was laid off from my job.