I'm not into spilling my guts on the internet, but here goes.I am looking into getting into real estate investing.

That is on the high side so a few things need to be determined.

The 4 comparables I have found show that the houses arv is around 70k, and i'm still determined to do the deal.

They may attack the validity of the lease and those issues are stated.HUD regulations apply to lease terminations when housing is subsidized.A lease survives a purchase, except when a buyer purchases a property as an owner occupied home and 30 days may be given or a lease may be brokern with 30 days when an onwer has for any reason lost their primary home and has to take the property for their residence.....all state by state determinations, but you may have such exceptions.There are also other covenants in a lease other than just paying rents and if there are other significant covenants broken a lease may be terminated.

Assuming the market stays essentially flat for the next decade, I am thinking I will look at the mortgage and determine when the house will hit 25% equity, and agree to get the owner off the note around that time (25% EQ + 6-12 months cushion).

Originally posted by Garrett Yamasaki:One of things I would like to see is an app that shuts off all electricity/appliances at night, and when no one else is home.There is a company called Control4 (I think) that has a system that allows you to control your entire home from practically any device with an internet connection.

Perhaps Don can correct me but I don't thing there is a strict definition as to what determines A, B or C.

How do I determine an offer price for this property?

All you'll need is a book of phone numers and you can stay busy for a long time.And getting with the times, you can work the internet sites, craigs list and local FSBO sites.

I don't know why a smart investor would collect most rents in cash and not show in tax returns since that is what the banks ask to determine value.