My tenants are going to take care of minor repairs so you don't have to, and they'll go straight from renting to buying, which means no vacant house payments and no re-painting/re-carpeting.

After you purchase the property, go to each of them and have them sign a lease.Then just focus on renting the 3rd unit.Very straight forward.

I have joined local REIA club, but this site seems to have straight answer for what I am looking for.Thanks again all.

Im going back to grad school to get my mba/macct so hopefully i'll be my own CPA in a few years, that said, my fiance has a house so I won't need the 55K for that, luckily that wasn't part of the trust it was straight up bank stocks which i sold in april 08, lucky me!!!!!!

Not that your not planning but it's hard to think straight when your unable to focus and stick to a plan.

Have you found more success on finding REO for a great price or pre-foreclosures for a straight sale?

Maybe you all can set me straight...

The people who engage the HAMP program can move straight to short sale or DIL without going through the trial period.The 90 day provision has got me stumped.

Since you have a loan, straight owner financing isn't an option.You collect the down payment/option money.

If its really worth $130K, that's something like $90K.For a straight purchase, a bank is going to be at 80% LTV, and that's if you find a lenient bank.