Renting vs buying where I live, renting is cheaper.

Sometimes a lender will accept that.You could put as a condition in the contract that seller is to pay for a phase one report on behalf of the borrower and the borrower gets to choose the engineering firm to complete the report.Have you checked the EPA site to see if this is known to be close to a contaminated area already??

. $0 repair costs as house is in great condition so I have estimated less than $1k to get ready for rent.  30/15 Balloon at 4.2% Financing.

I did the research on what it would take to bring this property update to standard of living condition roughly $68k in repairs making it completely off-grid home without needed to used energy from the grid .

We'd like to do a "before" walk through to see the condition, see what can be done to it and how to be cost effective.  

But no matter how you look at it, they are still monstrously underpriced, and even in their current conditions, they are still appreciating.

Also, is the location/condition of the property good enough to get better tenants/command higher rents?

As I am reading the terms/conditions of the contract I see RED TAPE!!

Everyone here knows about the crazy demand and low inventory that's going on, and know their houses are worth a ton of money regardless to condition.

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