I got a homeowner who wants to help her mother get rid of her home and an investor who is interested in the property.I plan to inspect the property tomorrow, take notes & photos and forward the info to the investor.

I believe this may have been grandfathered-in, but I'm not sure...Nothing was brought up at the inspection.

I tried to argue that HUD had misrepresented the house and that the HUD inspection never mentions the foundation.

Then comes the problem that two of these comps are from 2011.So instead of the critique, here's what I think you should look for:Comps closer to 2bed/1.5bath (perhaps the 2bed/2bath will do), comps closer to the current date (like within 3 months), and make sure the address is close in proximity (1/3 of a mile is pushing it...).

You only have a short time to do inspections, typically 10 calendar days.

Profit around $5k per year plus getting closer to paying off and owning a 4-plex!

After a lot of researching, reading, and planning, I'm getting closer to purchasing my first property.

We do have upfront fees for appraisals, Phase 1s, site inspections. 

I'd recommend considering your first real estate investment somewhere a little closer to home, and perhaps in an area that is demonstrating growth vs. decades of population loss.You can certainly find plenty of properties there for little money, but the question is whether those properties are cheap for a reason.

#2 is best for the buyer - you do your inspections *after* the bank has agreed to the short sale