I suggest you spend sometime to understand the history of the markets which you plan to invest in and make your bet accordingly.

To that he answered: your best bet is to talk this through with the seller and try to come up with an arrangement so that he does it.This deal is in trouble and the legal due diligence is coping with a hard red flag:- On the one hand, my business instinct tells me to walk away because something smells shady and can have very bad consequences down the road.- On the other hand, this is a very good deal for the following reasons     - Very good area     - Good cashflow, even if we were to ignore the basement and only consider 3 unit

I'll bet it's a major consideration for families (behind safety and school district).

Besides if it is listed, then most buyer's in your area have already seen it or know about it, before you have.Dealing straight with a property owner is your best bet, instead of going through the agent for every little thing.

good luck I bet you saw some nice little older bungalows that would make for nice rentals in that area as well.

The link to file online is in the righthand column (LLC Formation).

Your best bet would be to get an FHA loan.

I bet it is worth more than 0.  

I did get a copy of the 90-day notice that they sent to the renter a month ago but after speaking with the renter, it seems like the owner did not notify SEC 8 with the same notice.At this point, after all the advice you guys have given, I feel like the best bet might be to get both the renter and section 8 to honor the original 90 day notice and forego trying to collect the remaining 2 months' of rent. 

I tend to agree that my best bet is to find something off market and I'm working on building up a network that will help me get eyes on some of those deals.