Seems to me like any of the good wholesalers market to their buyers directly and anything that doesn't sell gets put on this site.

More than a half century of deferred maintenance doesn't recover overnight.I think there's still a ton of upside, but it's going to be the hardest dollar you can make. 

So, the basis would still be your adjusted basis, no step up to FMV.In general, the IRS doesn't respect "self-dealing", which is selling assets to yourself, a family member, or a company you control.These issues get complicated, which I love because I get to charge my time helping clients through these issues!  

Doesn't this risk factor put us in the same boat as a hot market with low interest rates?  

I know you can get away with Class C units in other ski towns as there are always folks looking for cheaper housing but it doesn't seem to fit with Aspen.

No recurring payments, doesn't lock me out after a year

They hope is they attend a state school and receive scholarships, but we are also planning for if that doesn't happen.

$800 - 150(vacancy and repairs) = 650 - 417(pitia) = 233.00Even if the property doesn't give us the equity we need, we are on pace for buying another property in about 6 months or so.  

You have to be careful to not go too low on the gallons per minute- saving money on water doesn't make sense if your residents aren't happy with their shower pressure.

It doesn't have to be a good deal, but use the BP printout and take it to an REI meetup in your area, and ask someone if they could help you evaluate your deal.