You might need to build the team out a little bit to flex your muscles!

If the condition worsens, you're duplex may even be declared "condemned."

Here are the details of my first offer and what is was based on:5 Units (all rented) = 1,9951 House 2/1 (rented) = 650 7 RV Hookups @ 350 (3 rented) = 1400Expenses = 14,400 Asking: 249,000Declared Gross Income: 55,200OFFER 1 (Based on above)-Owner FinancedPrice: 240,000Down: 20%(48,000)Interest: 8%Terms: 10 year balloon on 30 amortizationReturns: Cash on Cash= 28% Cash Flow= 1153Reality5 Units (all rented) = 1,9951 House 2/1 (rented) = 650 7 RV Hookups @ 230 (3 rented) = 690Expenses = 14,400 Asking: 249,000Actual Declared 2014 Gross Income: 37,364Actual Declared 204 Expenses: 34,367Given this information the expenses are obviously bloated, the utilizes are not meter separated (where 50% of the expenses come from) and the rents are below market so my question is what should my next offer look like?

Lenders, however, won't generally classify it as an investment property for debt to income ratio purposes until there's 12 months of seasoned rental payments or more AND it's declared on his tax return as an investment property. 

I wanted to update everyone that made mentions on here.I found out that the 5ftx132ft is an actual parcel owned by the Cleveland city (some how they declared it was vacant) I have to put in an applicaton to try attain this parcel.

Let's say it's $100.Your contract would declare that, should you should fail to perform, you would forfeit your earnest money.

While @Jonathan Twomblyhas resparked an age old debate he offers no basis for his broad declaration that an LLC is necessary.

Any input would be greatly appreciate it.To whom it may concern:We, jose and joanna , are writing this letter to declare our interest to buy your property at 47 quingy ave ionia michigan 49548Our proposed purchase price is 45,000 for this property.

This thread is 2 years old but to be accurate the threshold as of last year is 51% sold before a condo plan can be declared effective.

A receiver being involved means they've declared bankruptcy.