Part of the issue you are having in DeSoto is the limited number of comps.

Personal preference/depends on your capital limitations.

This has also limited my ability to try out direct mail and other sourcing ideas.

Hey Mike,Make sure you do your homework if they do "gift" you the amount.Unfortunately there are limits on how much a parent/s may gift their children without triggering gift tax by the IRS.The IRS is the last entity on earth that you want to have future issues with.I would seek advice from a tax professional BEFORE making a final decision.All the best!

I saw a great write up about BP on another blog that was discussing RE programs you have to pay for in Houston, ie, Lifestyles Unlimited.

@Jarese Bradford , I have only limited experience with REO but it is always so slow.

Fair housing laws state:If you or someone associated with you:Have a physical or mental disability (including hearing, mobility and visual impairments, chronic alcoholism, chronic mental illness, AIDS, AIDS Related Complex and mental retardation) that substantially limits one or more major life activitiesHave a record of such a disability orAre regarded as having such a disabilityyour landlord may not:Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing.

This means there is a very limited amount of contact a creditor (in mortgages that would likely be a mortgage servicer) can make.

Bill Gulley could write a book on "how not to do" all of these.The Dodd Frank Act et al. will limit some creativity to some of these.

I am "estimating" the repair cost on my limited abilities and this kind of thing.