Of course your current total loan amount and structure needs to be considered in this decision.Good luck!

Some people would be scared of that but I know the market and the structures of the houses and I can see how they withstand.

Things like fungus damage of the subfloor, support posts in the crawlspace in soil contact, hairline cracks, and (scariest to me) no foundation on a portion of the structure though majority is pier and block.  

The thing you want to be aware of is how the deal is structured with the owner, because they may want you to pay up after a certain amount of time and if your not ready bad things happen.Another way is using your IRA or Self Directed IRA.

That being said how would I structure this deal while best protecting myself?

Any advice on the recommended structure?

In a couple of instances a new tenant was found to replace the original sublease tenant, and I structured a full release from the sublease providing the sublessee met the conditions for a full release.

The following will hopefully provide you insight regarding which Corporate Structure is best, for your Investment Endeavors.

I have two structures on one parcel and the insurance policy covers both.  

He is dealing with an out of town and possibly out of country owner.Check my understanding on how I think I could structure a subject to and the obstacle of this property.2 home property1st is 2bd 1 ba needs paint, carpet, and bathroom remodel, and cosmetics Rent would be about $850-$9502nd home is uninhabitable (fire damage). 3 bed 1 bath.