TrevorIn Ohio, I would buy it on land contract and then either assigned my interest or keep the land contract and rented out or lease to own the propertyOhio has great land contract lawsIf you sell on land contract as a seller, you do not have to go through foreclosure if the vendee does not pay you, you can actually fit in landlord-tenant court if the vendee has paid less than 20% into the contract and/or been in the property under five yearsOhio has come under greater scrutiny with assigning contractsYou're better off getting on title first with either subject to, land contract, or some kind of wraparound mortgage\installment saleI hope that helps

I agree with Ryan,I deal in lower income areas and my cream of the crop are 2/1.. mostly single mothers, 1 or 2 kids, the 2/1 work perfect.

I deal with situations like yours on a daily basis.

Why is refinancing from FHA into conventional not a ideal situation?

Dan I would just look at how many hours and money you will need to put into this deal and what is the return versus working on other deals.I fit is a difficult deal but I make a lot I might take it on.I fit is a difficult deal with close to or the same margins as easier deals I might pass on it.I second talking to a probate attorney.You need to know for your state what the options are.Probate properties can be a nightmare when the heirs want different things or disagree on the value of the property.

There are plenty of other operators even here in Memphis that are better fits for some investors.

They are all but gone, but the ones I HAVE seen still, require the property to fit within VERY specific guidelines...such as a specific part of the city, blah blah blah, and if it's going to be non-owner occupied, that may filter out some of those grants even further.

If you find out the deal doesn't fit you objectives in a few years, then you want to have an ability to market this property, with financing, to the largest available pool of buyers.

I don't know for sure but you may have received this response since this may not fit their business model.

He should have been able to tell me that before running off my buyer, who would have been happy with any deal that fit his criteria.