Although claims involving title defects do not occur on a daily basis, the potential loss, in the event a claim does arise, can be catastrophic to a property owner who does not have title insurance.

I am looking for a real estate lawyer that can help me with possible paperwork when the need arises - but this forum seems like a great start for me (read through alot of posts last night before posting mine).Once again thanks for your response, and I'll definatly try following up with you if the post escapes you :) - Elliott

After all momma never promised you a rise garden.

This will save you time and money down the road should an issue arise. 

Yet others will consider the equity in the unit as their elasticity, with the intention of refinancing their cash out of the unit if a situation arises. 

my personal suggestion is to get your feet wet with your first deal on your own....i'll clarify you will need a realtor, a lender, a contractor, a title agency, a broker in order to complete the deal.If you have purchased your own home, then you've been through the process once and that may be enough to consider yourself into real estate investing. most financial investors want to know you can swim before they jump in the water with you.also the first few deals are pretty easy to get the money through banks at a low interest rate. you go to outside investment options when you can't get banks to throw money at you. private investors, hard money lenders, and crowdfunding will eat into your profit margins.with all that said, you're not alone, you have this entire bigger pockets community here to answer your questions when they arise. some are good answers, others are not as good, but we're all trying and learning here.Thoughts?

I cannot afford much but if the necessity arises I can go for finance.

in the terms of keeping things simply yes the price is all that matters, I understand that, but that was not my intent with this post, I was not trying to get advice on analyzing a deal, my intent was to find out what are the buyers plan of action when a situation like this arises.

Yes, there will hopefully be a rise in economic development in Windsor - and your designation of rural-esque makes sense.As for Digby, I know exactly what portfolio you're talking about and it's absolutely overpriced!!!

Also since it's a gut rehab of a property built in the 1800s, I would also consider adding a generous contingency (10 to 20%) on top of your contractor's bid to account for any surprises and change orders that will inevitably arise.