My father was disinherited, my uncle and aunt inherited the property, and promptly sold it and used the proceeds for living expenses.

You have inherited $1,000,000 USD from uncle Joe and you are seeking 10% return of $100,000 a year how would you invest this money in an environment where money market is paying you less than 1%?

However, I'm not completely without cash - I happen to have inherited close to 80k PLUS I could easily partner with my father for credit and more capital and buy a pretty chunky apartment building in Newark or Jersey City with a nice 9-10% CAP.I have also been reading a lot about landlord law and feel I could be ready in 2-3 months to be a landlord or at least identify a good prop. management company to handle a 6 unit.

Will- And not to take away from everyone else's response but your answer is spot on.I love this site soo much, people are very informative and quick to aid others. 2 Thumbs up bigger pockets.Mel- I've learned that, as me and friend are going to invest in some direct mailing campaigns, and target Absentee and Inheritance owners.

Maybe lessen tenant screening, maybe lower rent to get one filled.

Sounds like someone in the family worked their tail off to get it then one of the kids inherited it.200 individual properties does not appeal to me in the slightest.

Essentially it's being lost because FNMA is ultimately paying it -- and ultimately the net proceeds paid to FNMA will be lessened by that number.But that's a far less important concern and I'm realizing I left you the wrong impression the way it was written, I apologize for that.

If the entire property is vacant you don't have to worry about inheriting bad tenants but you also don't have instant income and have to rely on the seller's claims and your knowledge of the rental market to determine what the income will be.Banks don't dislike landlording per se, investment properties represent higher risk than OO so they charge a premium.

People are so underwater nowadays, they can hardly sell or short sale their home even if they want to, unless they are out of state owners or they inherited the property it seems "motivated sellers" are far less frequent.

Cash for keys is always possible to lessen the time, but less likely than you would imagine and other things can go wrong with that.