We have been trying to get into the database for many banks and asset companies to begin handling the escrow transactions for REO properties.

I guess that makes sense and I would actually use cash on hand to fix up the place (I am estimating materials at 25k) Labor costs I will be eating since I along with my father in law would be handling the fixes.

Or would a management company handle all of that?

I am always looking for local attorneys to handle transactional issues for my clients.Greg

You might want to check with a local title company which is generally much cheaper than having an attorney handle the title transfer.

I am sure others on here have gone through this and found the best or worst way to handle the tax situation.

Josh has gotten almost all investor resources handled.

I don't want to get into this and find out I have to go down there for something several times a month.Any comments or suggestions on how you handle things and what works for you would be greatly appreciated!

I have walked away from 3 deal because my team mates told me to (IE the house repair is more than you can handle, that part of town is nothing but problems, you'll have a hard time with that property).Read as much as you can on this sight.

The bank cannnot handle what they have, much less the confusion this would cause.I am not by any means defending this agent.