If I can maybe make 1% per year by keeping the money in a Savings Account.

Originally posted by Account Closed:@Doug ClayWelcome man, BP is a great spot to start. 

Looks like a good deal for you and I like your plan to reposition conservatively.Just make sure that your estimated expenses are taking into account traveling to the property a few times per year, at least until you get everything situated.  

I also think your annual insurance of $700 is light for the price.  

@Ashley Cast, basically, if the money's not coming from your account, you NEED to know "other people" who DO have the necessary money, and are prepared to go into some sort of business DEAL with you.

She offered to pay 6 months in advance and we went to her bank branch and verified that she had well over 100,000 in her account.

The five states that account for 40% of the foreclosures, only make up 33% of the population.And NY, GA, IL, NC, & PA, all have more population than Ohio, but did not make the list.

Once you file the LLC, you are responsible for tax returns, annual filings, etc.  

I am part of a brokerage as well so I have to abide by their rules and take into account the money that I have to pay in there also.  

As Account Closed said, clean offers do better as well.