Check all decks for loose boards, railings, and stairs.?

Scrape loose paint.

IF all goes to my loose plan in the future..

The mutual goal is to not loose the property and be able to pass it onto family when we're done.  

You loose me on the turn-key stuff.  

Attorneys, however, are not bound by real estate commission rules and can release earnest money without the seller's signature, and typically have problem doing so in a case where it's clearly due back to the buyer.

Given that, using the leverage of the other lot by mentioning that she could keep the other lot as is and sell separately, that way she gets more for her dollars as opposed to selling all together with the house as is, because in the area and given the circumstances, it wouldn't be as financially beneficial.Guesstimate on numbers, as I am seeing the house SaturdayPurchase Price: $75,000 - $80,000Rehab: $100,000ARV: $285,000Time to Complete: 10 MonthsTime to Sell: 2 Months%ARV: 74Projected Profit: Around 55kThese are very loose ballpark estimates.  

This is also a very risky manoeuvre to attempt for your first property as success depends on you being correct on the amount you can raise the rent and being able to improve performance before you have to refinance.I'm not certain why your father appears to be discouraging of cash-flow, but even if you would be purchasing in anticipation of appreciation (which is drifting more towards the speculating end of investing), rule one still remains: Never loose money!  

Be assured, asking to meet family is way out of bounds, in some small town, the grapevine works very well, if an investor has been around, he will be know in RE circles.

You are still bound to the contract though if your assignee doesn't perform.