It's worth at least 300k but unfortunately it is in a historical area in the "bay of refuge" and the house has been updated with some unpermitted additions (of staircases and an extra bathroom.)

I am looking for a way to make extra money in my "spare time" from home.

The truth is, the recent temporary extension of the payroll tax cut is being funded by a "small fee" tacked onto governemnt backed mortgages (30 years of extra fees for homebuyers from now on [and probably forever] to pay for a temporary - 6 months - payroll tax cut).

If they can't then they can cough up the extra dough to buy the property.

For instance, lease a large property near a campus for the son/daughter, then sublease the extra rooms.

I could incorprate these changes into the side to be renovated, but retrofitting them into the already completed side would be more difficult.I am looking to hear anyone's experience as to what the cost of a sprinkler sytem/ alarm system might be and if there are other incremental costs or regulations that should be anticipated that I haven't thought of.For the extra $500 per month income and some decrease in insurance costs, I am motivated to do this, but the regulatory hassels are less as a two unit.What do you think?

They could be the same entity/person or at least know each other.In total $3.4 million of liens were sold in 2010 and $4.0 million were sold in 2011.This is what happens when a tax lien geek has a few extra minutes to look at spreadsheets of past results...Jerry

I feel it adds an extra layer of protection to ensure the area remains in decent shape.

Your not paying extra and you have someone looking out for your best interest.

When an offer is accepted, create 1234 Madison Street LLC with CashBuyer LLC as the owner and then hold the property in 1234 Madison Street LLC.This approach would also add an extra layer of protection and wouldn't require you to submit offers in your own name or make a new LLC every time you want to put in an offer.