hi jeremy. i would agree with bill. i would bet the downspout was draining right next to the foundation which is completely against the whole point of a downspout. you want to devert water away from the house, not dump huge amounts of water right next to the house......lol. i would have to say, from a home inspectors point of view, the water has probably eroded the soil beneath the footing and caused the footing to collapse, allowing the foundation to crack and collapse with it. you could get away with just tuck pointing it, but it will come back. the repairs could be extensive and expensive and jacking the house could be involved. it could also involve a small area of the footing/ foundation and allow you to rebuild just that area too. hard to say without actually being there. check with a local structural engineer and weigh the costs verses the value of the house. after all, thats what real estate investing gets down to. good luck to you

All references cleared up (credit score, landlords, employers, etc. )I know I could have moved on to the next applicant but I like giving ppl the benefit of the doubt and in her case, I think I did the right choice. 

Here we do not have mortgage terms longer than 7-10 years and most folks use a 5-year term, so the concept of ones mortgage rolling-over every few years is par for the course ... you simply renew/refinance, or pay out, as your mortgage comes due.On those 5-year terms, you have a choice of either a fixed-rate mortgage (on a 25 - 30 year amortization) or a variable rate mortgage (which floats with the prime rate).  

I bet there are a lot of people who wish they'd done something like that instead of getting stuck with years and years of loan payments.I bet that having the experience of even that one deal is going to help you in the long run.  

I'll bet you get a comment on it 8/10 times you show the place.

Get the Best DealNever be in a hurry when it comes to purchasing property of your choice.

If you look at how fast apartment rents are rising relative to what mobile home parks offer for their pricing, I believe it is an easy choice.  

Two major choices- I am still trying to figure out which would be more profitable, but need help figuring out the numbers on option 2. well, on option 1, as well, but that will be a separate post!

"There are two primary choices in life: to accept conditions as they exist, or accept the responsibility for changing them."

Many of the techniques they use, driving for dollars, mailing campaigns, bandit signs, are your best bet for identifying and contacting owners of properties that are going underwater and may be looking for a way out.