In the height of the rush, I think it was a very viable profit venture, but with the market how it is right now and with things only looking like they are going to get worse, I would personally steer clear of speculative investing based on appreciation or new construction.

Wilson, not even clear that this is seller financing, but leans that way.

Your statements summarize why many investors don't use PM companies.You are clearly a manager I would never use.

It's exactly as Joel said above -- general warranty deed guarantees clear title through the entire chain of title, while special warranty deed only guarantees that the title wasn't encumbered during the seller's ownership.

I have bought properties that needed roof and sometimes we would need to get on the roof to tell if there was one or two layers of shingles, but we always new how many layers before we started the job.You also said "they looked in the attic and didn't see any need for redecking" It would be blatantly clear from looking in the attic that there was more than one layer of shingles (look at the number of roofing nails sticking through the decking).As for uncovering bad roof decking during the tear off process, sometimes you just don't know until you tear off the shingles, other times its obvious from looking in the attic or walking on the roof.Sounds like this company has taken you for a ride.

Its pretty clear here that if you're using a direct mailing service to give strict orders NOT to send to any short sale homeowners because in the end the investor(you) are the responsible and liable party.

As long as title clears, we're good.

Ensure that the lease option clearly states who is responsible for various types of maintenance or repairs.This agreement should also specify the types of changes or improvements (if any) the potential buyer is allowed to make to the property during the lease term.

Do I call roto-rooter to clear the drains/sump hole?

Hope it clears further.