Pocket $30K (or, 50K, if you can sell it for $110K) and use that to clean up your credit.You're not going to generate any income on this property.

This is why it is imperative that floors and sills be carefully cleaned subsequent to lead repairs.

Billy Buyer has $20,000 to put down, but since his credit is bruised, it's hard for him to get a regular mortgage.

Make it shine inside, impeccably clean, fresh paint, new carpet if stained or worn.Have it professionally staged, this has made a huge difference in the time on market for my properties.Don't worry about selling from a distance, your Realtor and Title Co. will help you through it.

I know a lot of these programs restrict purchase from 'regular investors' , but I think this is a mistake.

Check out the competition regularly to see who is moving up or down in the search engine rankings.

If it were me, I would have it cleaned and filled now so you don't have to worry about it later.

It talks about assigning sub2's not assigning a regular deal.

if so, couldn't you just find a note seller to help sell your part of the note, get the quick cash to buy off the original owners mortgage, or at least strike a deal where you'd use the money from your sell to pay part of it, then assume the mortgage left on it. that way the original owner is out of the deal, you become the 1st position, and since the tenants opted out of the option, you get to keep the property, and rent it out regularly to pay off the rest of the mortgage?

I am pretty sure he is well-meaning and he has gotten several foreclosures and many regular deals for past clients.