Hi everybody,I got a call this evening a guy called me want to sell his mom house because she is really sick.He said they have a $35,000 loan still owed on the house. he trying to sell for $55,000 i went on Zillow and realtor .com to see the value zillow at $77,000Realtor at $71He said the house is in good condition not much repair needed Its 3 bed 1 bathThis is my first one can someone helpme please?

Can't see much happening before next fall though, I have two projects in line already.Too many ideas, not enough time....

For example I looked at a home in Hilliard Ohio that asking price was 230k there were no properties in the area that sold with exact same sqft beds and baths.

I plan to buy a house in the next year or so and use a home equity line of credit and loans in the future, but for now, am really just looking to work with somebody in the Nashville area.

I presume I have a choice between straight-line and accelerated depreciation?

If both of them meet your criteria you're safest off choosing the first one to apply, and your reason for denying the 2nd application is that there was a qualified applicant that was "in-line" before them.

This week, 2 months later,  the PM sent another maintenance person out and found 2 issues:1. water leaking from the ice box water line.2. hole in bathtub floor that wasn't there in August 2017.Along with that, they provided an estimate for the extensive water damage due to these 2 issues.  

Deal or no deal Its a property in myrtle beach arv is around 145K they want 90k but negotiable it was flooded in the storm they completely gutted it and sprayed all thats left is to rebuild 2 beds 2 baths it's an A or B neighborhood gated community the seller says they want an honest offer but doesn't want to be robbed.

If you paid too much for the property, and your rehab costs aren't in line, then you're in the property too high, and (even with a good appraisal), you won't be in a good cash/leverage position

Leave it alone otherwise and it will be fine going forward as a purpose built rental.Bottom line it looks good as is, don't fix what isn't broke.