Hi there ok I found a motivated sellerThe reason she selling it is because of pending bank foreclosureAsking Price is $465,000Market Value is $571,000Here Some More Info:Style: BrownstoneExterior Condition: High Average Exterior Wall: MasonryLot Frontage: 17.83ftLot Depth: 100.00ft Lot Shape: Regular Lot Square Footage: 1,783Finished Sq.Footage: 2,139 Residential Units: 2 Commercial Units: 0 Commercial Sq.

One book I've been reading makes the claim that "Cash Flow Sucks!"

that I should just set up an llc right now, and quick claim my rehab to the company prior to selling it.

Last, but certainly not least, some investors claim that when looking for investment properties, you should start with properties that you can flip and not with properties that you intend to rent out.

Just came across some interesting properties on auction.com, and they do offer special warranted deeds, I guess it is better than quit claim deeds, which you don't even know if the seller has the right to sell.If you receive special warranted deed and clean up the ones that bank didn't, you are good to go, and may flip to next buyer who would take mortgage.Anyone has experience with special warranted deeds, care to share?

I would also make sure that you get an affidavit from the present owner, with the history of the eviction situation, so that the tenant doesn't claim in front of the judge that they've been paying and you have nothing for the other side

The current FMV of the property (by both Zestimate and his guess) is $203K.He claims to have fallen behind in his payments 2-3 years ago as a result of divorce and one year spent unemployed.

I would rather have a claim to the property, rather than just the structure.

I'd call their academic advisor at the college to verify any of their claims.

My goal is for it to replace my regular f/t job in a few years; so either I make excuses why I can't or I take actions to get it done.