I will put the pay or quit if she doesn't pay since that will cover if I take possession.

But If a bank will sell you a house when they were going to put a measly 8K improvement in it (which only means they had possession of it) and sell it for FMV of 75K, they need new staff.

Do commercial loan so it doesn't show on your personal credit and will not affect your debt to income ratio moving forward.

Even if they're willing to settle for $2k, and that's worth it for your situation, I would rather offer them $4k in pre-paid HOA dues to cover the next X years in exchange for wiping out the back-dues - rather than paying $2k in expenses for someone else's debt..

Also homeowner may be looking to convert to a chp 7 if things didn't work out.If they filed a chp 7 it'll be in the paperwork if their confirming or reaffirming their debt.

For the mortgage debt, you have:Debt: ($60K, 30 yr, 7.125%): $404 I would be putting down 20%, so the mortgage amount would be $48K.

Anyway, she was arrested in December 07 for possession of cocaine and driving with tags that did not belong to the vehicle.

Taxes, insurance, debt servicevacancy rate, repairs, mantaince, utility bills ( a vacant unit in Indiananeeds heated in the winter to prevent damage).

My Steve Young and Bret Favre signed footballs are my prize possessions.

Also, the amount you put down has no bearing on the cap rate, only on the debt financing and ROI.If your maximum cap rate you are willing to pay is 8.5%, then the max offer price should be $277,000.