Homes that old are not worth moving because of their condition and you'll spend more on the move than the purchase of the home.

And still further, if you have a good paying day job, you may already be hitting the limit for social security tax.

If she has been there for 3 years and you don't have a security deposit, you probably also do not have any pictures of condition reports from when she moved in.

No social free money for the most part and you can work or leave and return to your old country.

I'm curious to what the experts on here will say but I wonder if you can make it a condition, even if just verbal until everything is signed, that you will move on the deal when the current occupants sign your lease option for the $140-150k.

You need to find like properties (similar size, features, condition, etc) in the area that have sold in the last 3 months and make adjustments for differences (small differences in sq ft, etc).

Take a look at this contract: http://www.trec.state.tx.us/pdf/contracts/20-11.pdfYou will see that most things are negotiable (there are blanks and checkboxes everywhere), and there are conditions in which you can get your EMD back, depending on which contingencies are being used.

Obviously I lack the social graces to apply as a mod....LOL;))

I always fill out a detailed report ahead of time (i take a couple of hundred high resolution photos date stamped as well to document condition), then go over it with the tenants when they arrive.

Find an area you are interested in, and get to know what is listed, what's the listing price, condition of the property, size, lot size, etc.