Our culture has really dropped the ball here, whether it is both parents working or it is a single parent raising their children.

The smell of moth balls drives critters out of chimneys, would probably work elsewhere.

Buying a property involved in a foreclosure is an exercise in frustration and disappointment.

Thanks for that Steve, that makes sense.Vikram, I will definitely do more research, although you have answered my specific questions, but opened up more questions -its never ending...Property Taxes are a whole new ball game for me and just trying to be accurate in all the holding costs so I am prepared and don't get any nasty shocks.Thanks guys for your speedy replies.Cheers !

Its an REO I'll have to low ball for the property to go through but its been on the market for a while. the property is listed for way to much2 units are not rented that's why vacancy is at 20% gettin them rented will chance number obviously but for now 83 percent is actual occupancy.rents are as low as 300 for long term tenant to as high as 550 in 3 of the units6 1/1 6 2/1its saying all rents and repairs are being made.any expenses I'm missing.

"Cashing out" would be when the tenant buyer exercises their option and buys the house from you.

Second, all real estate contracts must be in writing.The bottom line is that you exercised HORRIBLE JUDGMENT and have no lease.

How do I make sure she is paying her mortgage payment so that once I exercise my option I dont have any problems with taking title?

I'd agree if the furnace and electric system could handle it, $3000 for AC's probably in the right ball park.

That is a first exercise for any of my mentoring students.