I'm attempting to help out a friend's parents who are about to lose their home to back taxes.Is the process as simple as quit claiming the deed to me and then I pay the taxes and hold the property until they pay me back?

Moving foward: 1) Enter into month-to-month leases instead of yearly (term) - they are the SAME to YOU but month-to-month give you all the leverage should this occur again in the future. 2) You should add a clause to elaborate on and expand on the current 'Noise/Waste' clause and the new clause should focus mostly on nuiscance and violation of other Tenant's quiet enjoyment and the remedies (fines) leading up to eviction if the issue is not corrected. 3) You should add a clause to protect yourself from the other Tenants (the good Tenants) ensuring to clearly spell out that you are not resposible nor do you guarantee that other Tenants will abide by the lease nor is it your respobility to enforce the lease vs. other Tenants, nor do you guarantee safety. 4) This is the most imporant one that will fix most of your issues: Because you are adding #3, you will now add yet another clause that gives ALL Tenants the right to enforce the lease in regards to your new 'Noise/Waste clause 2'  against any other Tenant who violates it and will idemnify you and hold you harmless, ensure to limit the right to only the pertinent clauses ---- essentially, if Tenant A complains to you that Tenant B is making funny faces at them... you can inform and remind Tenant A (in writing) that if the issue is a problem they have the right to pursue legal action vs.

Repeat this process until the property has been fully rehabbed which you mentioned would take around 400k.4.

The Midwest seems to be the theme when it comes to cash flow and I also believe it holds a ton of potential for appreciation if you do it right.I now have 14-doors in Detroit and I stay extremely active in the market outside my own investing.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Hi BP Forums,I've been laying the groundwork in terms of learning about REI and the important steps for finding the right deal and now I'm looking to buy my first property as a buy and hold (or BRRRR).

I have been a landlord for quite some time while also holding a fulltime job.

Buy & Holds, etc...).

The Wilkes-Barre and Scranton market seem to be a hidden gem in buy and hold real estate investment.

You could just hold off until 1 month prior too.If there are a lot of leads in your area and you are not booking look at why before you accept something farther out.