If that's based on the three very best comps available, you may be in for an unpleasant surprise with the appraisal comes back.

I have a friend with a SFH built in 1900 that she and her husband bought 7 years ago for 107K and completely remodeled, landscaped, the works. Her husband recently got a new job 2 -1/2 hours away and due to the n...

When I got off active duty in 09 we moved back to SC and still had an unwanted townhouse, so we became landlords.Now we have the townhouse, our primary residence, two 4-plex's and another single family house.  

Just some things to consider, it COULD work out okay but it could also make for some unpleasant family get-togethers as well. 

Distressed can take on a lot of forms (stressed out owners, unwanted inheritance, damage, mismanagement, rents under market values, etc) but it's a word we use to describe access to properties for less than fair market value. 

My initial plan is to ask my agent to increase the "Seller's Additional Costs and Limit of Liability" clause to $1,500, as insurance against any unpleasant surprises upon inspection.  

This is because the current landlord might say anything to get rid of them, so you are more likely to get accurate information from someone who doesn't have a vested interest in just getting rid of an unwanted tenant.Also, an unplanned visit to the current address might yield some valuable insight into how they treat the property.

(i have new carpet in 3 bedrooms)Can you put NON smokers only in your house description, so that will eliminate unwanted tenants, or its a discrimination?

To be sure, it is not inevitable that you use an FHA or 203k loan, but it was an unpleasant surprise for me at the time, thus my sharing of the experience.

I just don't like it as it's cold and I find the grid of the grout lines unpleasant to look at.