But really I wouldn't be to concerned with an out of state lender.

I'm waiting to find out what the actual pay off is on the property though first to know where I can submit my offer but my concern is delaying the auction of the property.

If you can control a $200,000 asset that offers tax incentive, appreciation and functions as a place to live while only putting $5,000 of your own dollars in then, the only question that I would be concerned with would be.....

His overalll tone was disinterested as far as keeping the house was concerned.

He had been hoping to buy after prices fall even more. (2 rentals plus his home)With the economy being what it is, he is concerned about banks failing and losing half or more of his money to runs on the banks, a recession/depression, and possibly losing that house unless it IS paid off, so is thinking of paying the mortgage off.

, but considering that I'm concerned that I don't have $50 to offer a contractor for an estimate, you can bet I'm not excited about taking up a lawyer's time so that he can give me a standard form and a bill for it.

I have also been aware of these services but have not utilized them as I had concerns about them not performing when I have the responsiblity to go back to the owner/seller I may try a service as an experiment in effeciency.

I have mixed feelings when things like this happen because I know that I am positioned correctly and that's good, but on the other hand I 'm concerned because if things get too bad then I'm worried about the tenants (even the good ones) going broke and not being able to pay.

I'm new to the buying of small business. I am dealing with one now where I was told the books aren't completely accurate. What should my plan of action be from this point on. I don't want to get caught up in anything ...

Another concern of mine is having the loan in our names is regarding record/book keeping for taxes.