Last summer we bought a duplex in Marion Iowa and it has been a great investment so far, but we have been toying with the idea of adding another duplex on the same lot.  

My appreciation was 79.4% (365,000 / $203,500) in 3-1/2 years.Soooo - Be careful of the traps that prevent you from building your wealth - big houses, cars, vacations, toys....credit cards!

So it sounds like I may be in for the long haul with this and may not end up getting as good of a deal. 

I've been toying with this idea in New England for a few years.

If you truly want to grow your business, HML's are the only way in the beginning. you may also find, with the right one, you may stick with them for the long haul.

They also have a fiber optic camera where they take apart the shower fixture and insert the camera and can see behind the walls without tearing them up and can check for leaks.The rate is around 90 an hour for the 2 plumbers doing the test.Each unit the owner said would take about 30 minutes to inspect.If issues need to be corrected and fixed it would take longer.I really want to get these plumbing issues under control.I don't think the fee is that bad but wanted additional input.Had a great gut feeling meeting them just don't want to blow up the budget too much.I asked about the bigger opening toilet bowls to prevent clogging.He stated the bigger opening would help with excessive toilet paper and waste getting stuck but would not stop things such as toys,q-tips,tampons,etc. from clogging the line.So nothing is fool proof.

Actually, I'd lean toward a short sale, list above the payoff and you can go down.Probably needs to address his personal finances with a professional and maybe a shrink, divorce usually means for a younger guy, footloose and fancy free, dating and toys, again, I speak from experience but didn't go broke or get in trouble at it (LOL).He might also look into a loan modification if he's in default, get the payments down.

However, if you did get it at that reduced price… just to either fix the trashed homes or have them hauled off and disposed of would take a couple of years to get your money back (at $240/mo profits).

  @Stephen BagnaniIt seems you should just buy a trailer park, mini homes that people rent. save the contruction cost- let people haul in their own homes.

Hire 5 or 6 workers, haul their posessions and leave them on the street by the curb.