It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

@Carl FlintThere are a few people who claim they’re able to wholesale deals found on MLS but I have only seen this happen in a very dismal market, certainly not today’s market.

Maybe if you owned it for a few years and had multiple claims would that premium be justified.  

The broker is claiming that this can be billed back to the tenants. 

The broker is claiming that this can be billed back to the tenants.

This is my first insurance claim on a house ever.

Property: 4 BD / 2.5 BA 2-story HomeOnline Value: $284k (Z: $292.5k, R: $285k, Red: $275k) less repairsRental Comp Range: $1500-$2100/mo - Most likely $1650-$1750Repairs: $34kActual Value: $250kOutstanding Mortgage Balance: $110kPrevious Purchase Price: $88kRV Purchase Price: $134kHow would you structure this deal to minimize expenses, fees, & taxes given the following info:1) FIL can give transfer property to us given any of the following strategies:    *$0 (gift)   ** $110k (we assume the outstanding balance on his mortgage)   ***We transfer at market rate (quit claim deed adds us to property deed, $110k refi with wife & I assuming all debt, then he's taken off deed w/ quit claim & we pay him 140 payments at $1k month for the equity he has in property w/ no interest).   

She is saying she places home insurance claims.

(Properties were in different conditions/levels of upgrades)5) In this market of high demand and low supply, it is best to get in and stake your claim to a property.

Yes, you could go to small claims court... fight it all... hire a lawyer... blah blah blah... but that will cost you more than a $1,000 and would be to help your ego and not based on a financially wise decision.