I’ve read where buyer pays closing costs. ( regular wholesale deals).

(Tax lien, purchase, inherit, etc)If you businesses method of accounting is:AccrualThe eviction costs go into your basis of that property if you are on an accrual basis for your business.Cash BasisIf you are on a cash basis you will deduct in the year you paid the expense.This is assuming you are regularly in the business of dealing real estate.

. -------------------------------------3)(a) Upon the vacating of the premises for termination of the lease, if the LANDLORD does not intend to impose a claim on the security deposit, the LANDLORD shall have 15 days to return the security deposit together with interest if otherwise required, or the LANDLORD shall have 30 days to give the Tenant written notice by certified mail to the Tenants last known mailing address of his intention to impose a claim on the deposit, and the reason for imposing the claim.

Can you sell a property with a 50k mortgage for 1,000$ dollars and not satisfy the mortgage just quit claim it to a new buyer?

I have had my real estate license for the past 5 years but also plan on getting my brokers somewhere along the line and starting a brokerage hoping to work with investors and rehabbers regularly.

After six months or a year, you could refinance the loan with a regular lender, assuming you meet the criteria above.

Q #2) Can the brother claim the property even though he waived all interest in the property via quitclaim?

I know other family members who work a regular JOB.Their mindset is put money in savings in case of a medical illness or rainy day fund.Take 1 or 2 trips a year with vacation and that's all they aspire to be.They look at me and what I do and think "I am lucky" or "I have it good" that I have my own business.They think I sit at home in my office all day and do nothing.They do not realize I am putting in way more hours than they could imagine.I am sacrificing now so that down the road as I get older (36 now) I can take it more easy.Meanwhile many of these (savers) will be working as a greeter at Wal-mart at age 70 and complaining about social security not being enough.I am not going to be one of those statistics.A family member that is 68 has their house paid off,car paid off,and with social security still lives hand to mouth.I try to explain they need to grow that money to stay solvent but FEAR is what grips them from making a move.Whatever everyone believes we know we are born and in a certain amount of time we die.Where we go after that is up to each person to decide.So you do not have time to let FEAR keep you from making rational decisions and not living life.There is risk in everything.Successful people taker calculated risks and on average win more times than they lose.I guess I would be 4 and 5 since I have my own money but also buy property using owner financed deals.

Listed below is a summary of my financial and credit profile: Income/Savings:94K annual income (58K from primary employer + 36K combined from part-time work)20K in savings and have an additional 20K towards a downpaymentCredit scores: TransUnion 649, Experian 665, and Equifax 637 as of 12/10/11; credit simulator claims that my scores should jump ~20 points if I pay off my credit card balancesDebt:About 3K in credit card debt; all currentAbout 380K in student loan debt (majority from medical school); but all student loans are current and in deferment.

When a property is redeemed, this amount can be claimed by the winning bidder.