seems super high. i'd pay around 130-150 for it. a similar property has been on the market here for 270k for over 5 yrs. i told them it will sit forever unless a dum dum comes along. i guess they are waiting for that dum dum

Is this helping so far.This doesn't have to take forever.

@Liz Brumerchalk this one up to some pretty lucky circumstances IE getting the Deed I Lui  good job doing that.. if you had not, foreclosures in FLA take forever and can easily be contested and would have added quite a bit of cost to your all in price.For these deals you need this kind of spread to make them worth while in my opinion you could buy 2 or 3 regular fix and flips and not go through that drama and make the same money in the same time frame.. but hopefully this gives you the experience were you can start to move up were you can make some big dollars.although big return APR wise still small dollars for all the time invested and risk is how I would personally look at this...

Which are basically consumer protection laws. 

If I do keep the home, I want it to provide income forever.  

Your consumer mortgage products will never allow your land trust to be the borrower.  

Sacramento can not appreciate like this forever so on your next purchase you should look at the numbers very closely.

Hey @Mindy Jensen,Here are some criteria which comes from a landlord's perspective (who has a Land banking mentality):1) Area with tenants where you feel confident to manage them (can different from person to person, some are good with dealing with A-class tenants, some are better at dealing with C-D class)2) All things equal, the closer to where you live, the better.3) With sustainable cashflow (ie. land banking requires waiting, so if you can sustain the houses (at least break even plus some buffer), then you can at least keep the house forever).  

Well, somebody concerned about ROI will shop for the lowest cost insurance that they can find - so what makes you think that you will be the insurance agent this friend uses forever?

I would offer to do it at a reduced rate, of course (hopefully not for free forever at least).Mainly, I want to learn from an experienced investor and make a little money to build my capital for my own investing (and pay off debt to be honest).