Documented income in the mid 40k.

Yes, I've briefly considered selling it as a flip, but I was thinking that I'd keep it and make of it as a landlord.The sales comps are hard to get a handle on.There was a run-up to 2007, then a big fall-off like some other areas of the country.It was purchased in late 2006 for $160k and then sold in mid 2007 for $220k.When I found it, it was listed as a short sale for $90k, and I offered $65k.

My REO purchases are averaging about 2-3 weeks these days, and when I push them, I can generally get them done in 7-10 days.It may vary based on area and/or who the prominent closing attorney is, but I'm getting a lot of sellers who are willing to consider serious price concessions if we can close by the end of the month when the properties are going under contract mid-month or later.

I live in Missouri and from what I learned the sale is once a year in mid August and only Missouri residents can bid, I plan to attend this August and see what I can manage to do !

Mid-sized apartment buildings or larger MHPs which have high vacancy but are ripe for a rehab and management turn around.I would also consider buying multiple units in distressed condo projects where bank will not lend.

I would like some opinions on if a mid term inspection is something that should be done?

Avery small percentage live in their house for the full 30 year period.On average people move every 5 years or sooner.You have a starter home,move up home,mansion home,and then usually a retirement home.So claiming 30 years of interest losses will be a hard nut to prove.Sounds like maybe loans not processed by a certain date were cut off in mid-process.I know big banks promise a ton of rates online.They put everyone in this funnel and then try to close as many as possible.With one buyer I had before we were 1 week before closing and a bomb was dropped on us.The underwriter handling the buyers loan also was handling 40 other files and quit abruptly.The new underwriter took over the files and there was missing info in just about all the loan docs.Had to scramble to get all this info that was never requested so it could close on time.When you deal with big banks they do volume with low rates and for that there is a lot of errors and inefficiency.A lower rate isn't lower if it doesn't happen.

There are, however, what look like some decent deals on the market for sale where I would at the very least be putting my monthly housing expense into building equity into a market that looks to at the very least be relatively stable over the mid-term.A few of the deals I have been noticing involve REOs where there is a condo for sale in a small condo bulding (say 6 units total) but no HOA yet.

They can and are leased out for other uses, braodcast radio and television, public service communications, etc.In the 90s I worked with a guy (advised and financed) who went through the mid-west obtaing long term leases on properties lining up repeater towers and leasing them to Altell (now Verison) and did very well very quickly I might add.

Check with local HVAC guys, they can advise you better than us southerners.I have heat pumps (not ground source) and they work fine down to at least the mid to low 20's.