I would be patient and wait for the other deal and purchase that with the proceeds from your first success. 

If you do chances are you will be the defendant in a court action, even though the tenant isn't doing what she is supposed to.

My plan is to invest in better cash flowing properties with the proceeds, I was not cash flow positive on this house.

If you owned the home for at least 24 months (2 years) during the last 5 years leading up to the date of sale (date of the closing), you meet the ownership requirement.If you received Form 1099-S, Proceeds From Real Estate Transactions, the date of sale appears in box 1 of Form 1099-S.If you did not receive Form 1099-S, the date of sale is either the date the title transferred or the date the economic burdens and benefits of ownership shifted to the buyer, whichever date is earlier.

If you can't get a referral you may want to spend a morning sitting in on landlord tenant court.

He's willing to teach you the ropes, split the proceeds, and you still make a profit!

If that's listing probates, then you'd better know the process, court system and be an experienced problem solver.

-Vacancy Rate of 10% -Repairs and Maintenance 5%-Capital Expenditures 10%For the sake of simplicity, I assumed the following to be 0%-Property Management Fees-Future Income Increases (rent increase) -Future Property Value Increases (property tax increase)-Future Expenses Increases (Maintenance fee increase)On paper, this property is cash flowing at $167 (0% down) and $295 (25% down) - I am hoping to leverage as much as possible on this property through refinance in future & I believe based on the rental income, this property can support leverage.I would like to know your thoughts around this and if you think this deal is one that we should proceed.

Buying a house for $1,000 seems like you can't lose, but with those $1,000 houses come back taxes and in some cases, immediate foreclosure proceedings against the new owner. 

My question is once title is transferred through the court does it get a full title report ran just like it does in escrow?