What really concerns me is that although I have a decent paying profession, Banks wont loan me due my short time making my current income.

The owner doesnt want to carry the loan very long and is talking about an adjusted rate after 3 years... problem is that unless I can make 90k in 3 years I wont be able to refinance with the bank... and the banks here wont do more than a 15 or 20 yr loan.

Conventional financing wont work.Good luck!

It's a split-level condo and the bottom-most level (basement crawlspace) floor was destroyed -- as in CAVING IN!

My cash offer was $94k and I understand the commission of 6% but why is the closing cost at $6,356.50 when they wont be anymore than about $2000 including transfer taxes?

The thought of buying properties out of my market/state has crossed my mind, but after owning multiple rentals for a few years know I would not even consider it anymore.I've seen first hand how crappy property managers can totally destroy a home by selecting bad renters, and then not properly handling turnover, maintenance, etc....Then there's the issue of overpaying because you aren't familiar with the foreign market.

I may not get a deal right away and its possible I could send out a few hundred before getting a deal but that wont discourage me!!

From a GC's perspective a shoddy tradesmen can destroy a whole team.

A lot of the guys just happen to like doing it.If I only need a total of 110k for this setup, and the ARV is 250k, I wont have to make a loan for 175k to meet the 70% ARV right?

Either way it will generate more profit for our home in the future, since there is nothing in our market we want now and we are at a point in our current home where anymore work we do we wont see the return so it makes since to us to sell.So the seller has a contract with a realtor so they have to go through him.(2k he gets regardless of sale price, so a flat fee) We offered them a price that they accepted, verbally, and when we were talking to him he said that his realtor told him to have us come in a put a purchase offer in on paper so its official.I have a few questions id like to ask on what order we do things, or what thing we have to do for that matter.Should we be using our own lawyer or realtor to handle anything, on the buying side?