I was thinking of buying it and making some improvements to attract more stable tenants.

I have been a member of BP for about 3 1/2 years and I have been learning about investment in real estate full time during that period mainly because I was not working. 

My main goal right now is to get over the initial fear and get my first investment property by end of 2018.

I am not currently on any mortgage, but I assume I would need to ber listed in the LLC. 2) my understanding is that the main house in georgia, if I live there, I would be able to assume the current mortgage. 

I think this area is going to be attracting people and jobs for the next several decades.  

As well, our internal assessment of the millennial demographic is two main things: 1. they are very mobile, and can move whenever they want, no kids, low job attachment etc, , 2.

So far it's been working great...covers my monthly nut so basically living for free.Right now I have about $360k left at 4.3%I have about $170k in cashWas thinking to use some of the cash to either invest or perhaps pay down some of the mortgageBut...this sweet house for $650k came on the market - it also has a main living area and a carport that can be rented out for $1500/mo or so.So I'm thinking if I deploy 20% into that I can live in the 2nd house and the cashflow from the other house + side rental should cover it all.Do you think this is a good idea or given how hot the market it is would it be safer to just pay down the first mortgage first?

We follow 3 main guidelines:1.

Obviously I'll have a discussion with the sellers, but the main questions I can think of are:1.

I had a chance to look at the house before it even became foreclosed - extensive updating is needed, and there's a problem with septic, disclosed by the owners at the time.Of course, the problem with sitting and waiting for 2nd reduction is that it might get much more attractive to everyone else, including investors.