Additional income can be used to pay down the loan, and after about 12 years of ownership you will own your oil well out right.  

I work in the oil and gas industry and have been transferred to Douglas.

My daughter just purchased a 1960s split level as her husband is in construction and has contacts that can handle any issues like oil tank removal, old cast iron pipes, etc., for much less cost than someone who is not in the business. 

List it for $40K (assuming it's a market value) if you're an agent.So, it becomes an amortized loan, or you get financing, or you make a comission (OP is an agent)If I wouldn't have any reserves (not credit cards or HELOC), I'd be on #3 only.Every asset is coming with liabilities - they're unseparated: you buy a car - you'll need money to drive and change the oil even if it's new......same with a house.

I work in the oil fields in North Dakota.

I can change my own oil, but it's way easier to give the drive thru lube 30 bucks and do it on a Saturday morning.

Professionally, I'm a Lead HES Consultant for Marathon Oil Company in North Dakota.

I can't emphasize this enough -- nitwits who go at oil-based primer or poly without a mask to prove how macho they are invariably end up rushing the job.

I want to learn the basics, meet new people, figure out how to pay for my first deal, find professionals and build a strong team, etc.Although I am currently out of work (shout out to the oil & gas industry), I've got 15+ years of residential new construction and remodeling experience, and it seems to me that the combination of unemployed+construction experience+a group of people that deals in real estate might be something to look into.I'm just curious about whether this will seem like an opportunity to other investors?

Hello, I purchased a home about a year ago built in 1900 with an ancient Arcoliner 120k BTU oil fired steam boiler.