His cousin is way behind on the bills and needs to get out of his house before it goes to foreclosure.He is sending me the basic info, including note amounts, property value, address, possible repairs, etc.Then what?

Hi Kiran: Supplementing John Corey's Post: 1) TX has basically not allowed residential lease options. 2) I review most lease option material.

A basic cleanup can start at a few hundred dollars where as a suicide by shotgun can take more than a day to clean and can run into a couple thousand, not including the replacement of carpet, paint, draperies, etc.

There are basically two types of ROWs.

So basically you'd be doing well to scratch on the expenses.

You at least have a basic knowledge of property upkeep, loans, etc.

I think that a basic plan with different exit stratigies is a smart move.

Just spoke to [wholesaler] adv has 2 estimates for repairs. 1 for $6k [basic paint, carpet] the other for $15k [paint carpet, landscape, new drywall, etc.]Will make my own assessment on Monday.

It may mean looking something up online, or in a law library.Also, courthouses will usually let you look at the case files.Now, I went to one of those Robert Allen seminars, (the free one), and basically the premise was legit.

So basically they are still on the hook for their loan.