On your second question; If you are assigning a contract, let the asignee work out the details of where they want to close the deal.

That plus Skype and you have a good shot of making it work out well.

Sounds like it could work out to be a nice deal if you get a place to live and have a renter pay your mortgage payment and possibly other expenses.

So I would try to work out a win-win situation and maybe you can slowly take over their entire portfolio.

I recently picked a a unit that was a rental and they used the same color paint on everything including trim and while at first it threw me for a loop as I like bright white baseboard, molding, doors, etc I can see that it would take much of the work out of painting.

If so, as a homeowner, you have every legal right to pull your own permits and sub-contraact work out.

A local bank might be willing to setup a relationship with you to workout rehab loans where they finance the purchase and repair costs.

This was not my original intention but seems to work out great for me.The counter offer: same as above except the sale price raised to $54,900.What do you think?

It could be worked with but the numbers don't seem to work out with the input information you mentioned.Loan $30,000Interest: 11%Term/Amortization: 15 yearsP&I Payment = $340.98I/O Payment = $275.00I assume it is suppose to be P&I.

Be logical about what you will have to cover with deffered maintance, etc.I agree with Nathan, the return looks good provided all the numbers work out as you state.