its a pretty typical REO Transaction, I was a Listing Broker for Fannie for years, the process has changed a bit, but the basics have not, dont send them an offer of 50% of list an expect them to accept, just not gona happen (in most cases) the closing can be slow, but most REO's are, and be sure the title company gets a special assessment letter, its often missed.

Anyone in the Amarillo area with rental property knowledge willing to have a coffee, drink, or meal paid for by me?

Does anybody know how much a lawyer would take to look over a current lease and maybe give their input on anything I have missed or can't legally include?

Look at the bigger picture before the details, and examine possibilities / potential upsides, then the fast due diligence (what could go wrong, what am I missing that can bite me later).I'm familiar with the neighborhood.

They never missed a payment and always kept the house well maintained.

Wanting to know who is visiting in case anything goes missing etc. but if he doesn't care why should you?

I reached out to someone today who sent me a letter and he would like to buy it subject to.There is a loan of $185,000 on the property in my personal name with Wells Fargo.Total rents are $3,010 a month and the mortgage payment, including mortgage interest, taxes and insurance is slightly over $1,800.He proposed paying me $10,000, taking care of my listing agent and paying all transfer taxes.We would transfer the deed into a trust that he is the trustee of, sign an agreement that if he missed three payments the property would come back to me and an agreement for him to sell or refinance within 5 years.The guy was calling from addicted2realestate.comAssuming I couldn't net more than that by keeping it listed, where is the risk and downside to me?

Basically they "shop" for a title company that misses a severe title clouding issue, and that's who they try to FORCE the buyer to use, so they don't see the clouded title, and will buy the home.- I could go on.

At least in my experience, people get too far down the rabbit hole looking for this home that meets ALL the criteria they want and they end up missing out on solid investments.  

He/she will be tuned in and looking for stuff that you may miss.