Overall I want the deal to be fair to both of us as I find most deals go smoother, and with better feelings, when things are fair to all concerned.

I’ve thought about new Milford but also concerned if flood zones and further on coast closing into Rhode Island like new London, new Saybrook, mystic area I see some fairly inexpensive homes however those by water seem more difficult to find.

If it does include that - I would use that valuation.There are multiple methods the IRS allows you to allocate the purchase price between building and land.

@Tom BurnsYeah, that is mostly what I'm concerned about. 

As far as he's concerned - according to his attitude - whatever happens, happens.

This location is on the edge of the town, but within reasonable driving distance and has a university bus stop.I do not know why there were $15000 in maintenance last year, but i will find out.I have some major reservations since there are a few uncertainties about this one, but I was hoping to get the opinions of more experienced investors.What concerns should i be aware of?

Obviously, I have concerns about the margin of debt they have, especially since a large portion is unsecured debt.

I've been looking to get into rentals for a long time now, and am finally at a spot where I can.My only concern right now is how fast houses sell and how much over market value they sell for. 

My concern is that both of these options could take some time and I would have a good chunk of capital invested in the lots.Thanks,Juan Monge

I am so frustrated that the city isn't concerned at all about the septic system being outdated and don't want to find myself pushing the city so much that they push me to pay the $14,000 for the new line.