Actually, she would be moving in with me for a year at the new place so at least I'd have half of it paid for a year.

Utilities are not separated and would be paid by me (and are included in the costs).For garbage, there is a pre-existing deal with the college house across the street.  

As I understand Abdul, he's looking for pre-foreclsoure properties: have received NoD / Lis Pendens, not yet sold at the auction sale.

You might need to consult with an Attorney or CPA to determine your type of company to keep you personally protected, a pre qualification letter from your choice lender, and your primary Team members.  

We continued to pay the same rate that we paid for the year long lease for the next 12.5 months with no issues.  

I have paid my dues so lets leave the wealthy alone and continue to have the rest pay the freight.

Basically, I gave him a loan for 50% of the purchase and rehab, and he will get paid as the GC.I'm happy with this.

Are you pre-qualified if you are going the traditional loan route?

But, it turns out there was a clue that I hadn't paid attention to. - There was not attic access because it didn't have one!

It's at THAT point that you'll be able to confirm that you bought a great "deal", but, you should already have a clue, based on whether you paid under-market and/or know how to value-add!