If the fee is pre-paid to him without a solid commitment, then I would tend to agree with others.

This is a critical bit of information you should have known before committing to buying the property.This is an extremely important issue to real estate ownership that can continue to bit you in the backside for the entire time you own the property.I am a third generation developer with a lifetime of experience with creating owner associations, CC&Rs, By-Laws, etc.It would be extremely wise if you seek the advice of a real estate attorney where the property is located that specializes in property owner associations, CC&Rs, and By-Laws.I know of a community resident that sued a neighbor because the neighbor put a light bulb greater than 60 watts in the front porch light.I know of different association that sued a homeowner because the color of the few new roof shingles to patch damages did not exactly match the faded color of the older shingles.Consulting with a lawyer may be the wisest and cheapest money you have ever invested.

Especially with a seller in such a hurry to get you to commit to buying the property at $75,000 when you think it is worth $130,000.If it were me, I would not spend another second considering this property ... that is unless you want to take the time to learn why this may be a bad investment opportunity.There is no such thing as "mint condition".

Calculate the return on your committed cash.Next, calculate your cash on cash return on a retail rehab.

Always defer to experiential wisdom.REI can indeed produce those glorious successes you've heard about, but not without commitment!

I'd do a bunch more reading here before you commit to a half million dollar purchase.

Background: Recently my employer has decided to relocate our facility out of state and due to commitments in the Rochester, NY area I will not be moving.

Kenneth LaVoie for our business we always committed that at 60 units we would hire someone to handle management in-house.

I plan on committing myself full-time to REI as I am considering doing this as a career.

Speak to some mortgage reps. and way your options before committing to one company.