Although according to the contract it is the seller's responsibility to ensure salable title, you as the investor are responsible for seeing that the deal gets done, so the process of ensuring clear title is something that you want to take charge of.

This might be the biggest thing, almost all the cons can be avoided by ensuring you have good tenants from the start.

Security.No one yet has mentioned the problems with ensuring one's own personal security on an island.

This is a new federal law that you can get your report from each agency once per year at no cost to you.The process should take about an hour or so as you have to keep re-entering the same data for each agency.If you are married do separate reports, not joint.

Money on the table from the buyer helps to ensure that they stay in the deal to the option date!

I have elected to take charge of everything to ensure that the land is properly handled, farmed well, and produces a stable income that can provide for both my sister and I.I'm sorry if you happen to be a parent who's children have not appreciated what you've done for them, or you do not believe can handle what you have spent your lifetime building, and if it obviously your choice to do what you want with your money.

Your seller sounds cooperative, and very well should let you review the financial data to make sure his expenses are accurate.

Looks like a short sale is the only way to make this work for you.Just my opinion with the data provided.

As Primo Coach said, Melissa data is one source.

Hi Dawn,I've seen the same issues you describe with the way CMA's are being analyzed against MLS data especially with property east of I-71, lenders do not like the 64130 area code right now for some reason.