What is the class of the immediate area, as well as the physical property.

I'd bet some restaurant somewhere is serving horsemeat letting people think it's beef too.

I'm not a "bet on appreciation" type investor.

If you want to flip this at retail price then your best bet would be to do a rent-to-own deal.I also would agree with Shaun Reilly - figure out what the numbers would look like from an investors stand point.

Growth north or along the I-75 corridor, I bet will slow.What do you think?

From what he tells me, if you are not already experienced or don't have someone to physically show you the ropes then it can be a huge risk to get involved with sheriffs sales.The other person I know who deals with this alot is on the radio show Real Estate 411.

He wants to have it pulled directly out of his paycheck so he doesn't even see it, not physically deposit it to my account.

I'll bet yours is now the nicest house in the neighborhood.

Rich,I found this on the IRS site http://www.irs.gov/Individuals/What-is-Earned-Income%3F;In this link the IRS clearly says that interest is not considered "Earned Income"Now understand I am neither a tax attorney or accountant however, If I was in your situation my expectation would be that I could collect this income from holding the mortgage without reducing my SS benefits.Probably your best bet though would be to contact a tax accountant or tax attorney (or both) to be certain.

And you can also put ads in craigslist for the salesprice.I bet someone here can get you a good sales contract that's written from the seller's point of view.