We don't live in a cold climate and these units have good centralized heating, so our tenants tend to use the fireplaces minimally, if at all.

In addition, if something comes up you are stuck with the legal fees to fight a title claim because you didn't buy the policy.You may think the risk is minimal but things happen all the time.

My investor/backer though is more interested in finding two family houses at extremely low prices & needing minimal work.

In a D class neighborhood or one star I prefer not to buy parks that are really bad, they usually require too much time and effort up front to get them to minimal standards.

He knows the ins and outs of each neighborhood and I'm sure can execute things quickly to get them done with minimal loss.

Also I have a 4 year old, 2 year old, and another on the way so extra time is not something I have a lot of...another reason I am considering delaying my plans.Thanks again!

I would also avoid doing that, and I think most people will agree...well I would pretty much BET most people on this forum would agree.I would recommend finding something that needed minimal repairs.

Whenever I've closed on a cash deal the closing costs were minimal (few hundred dollars at most).

The only risk/issue I am worried about is not being able to make the minimal payments so I think I will only try to do max 5k at a time.

I have seen situations in CO where the owner did not file a notice of intent to cure at least 15 days prior to the sale, the foreclosing lien holder refused to delay the sale, and the owner had to go to the sale and bid on the property.