There are more pros and cons to this transaction but if all other aspects of the transaction makes sense it could be a perfect opportunity.

Buying for a great price, rehabbing, and selling 2-3 years down the road for tax-free profit will be a great way to learn aspects of the business and build sweat equity from the rehab portion while making a sound investment.

You'll never know unless you ask.If they are willing, I suggest you take the points I mentioned above to your attorney and consider the aspects I described.

Your general question is pretty much asking the how to's of RE professionals in several fields, not just a certain aspect.

LOL, any contract could have predatory aspects by the party drafting it.

Inconsistent/No marketing = little to no dealsPersistence (In all aspects - never quitting, taking "no's", following up with sellers, etc)Honesty & Integrity - A lack of these two equals the demise of your career in real estate investingNetworking - the more people you know, the more deals you can do.

@John Mimms,I have many years of experience with manufactured homes and all related aspects.

Aaron, there is not enough info to post a great response, but here are my initial thoughts.Always fix critical items first and cosmetic items last...anything that can cause additional damage and expenses needs to be adressed first.

I under estimated the negative aspect and had to drop the price so low, the net result was a small $2500 loss.

Education and Experience Are Critical to SuccessThe real estate profession is extremely complex with many intertwining segments.Because of the complexities of the real estate business and the need to be more competitive by knowing more, education is critical to enduring success in any business - especially in real estate.