One may be tempted to say you don't need to be an expert, which may be true, however, it may take an expert to uncover (before you buy) that 123 main st. is encumbered even after the sheriff sale - then you are in trouble....

So you are definitely on the right track by getting some information from a lot of knowledgeable experts.

There is a very wide range within that market area, so be sure to get some expert advice on the area before making an investment.Regarding midtown (KU, Westport, etc.), these can be good prospects also.

BP Experts,I have a tenant in a property nearing the one-year mark of a two-year lease.

. - I wouldn't say I'm an expert in this realm, but my understanding is that you might have to pay the closing costs twice (depending on how the purchase agreement is written between the seller and you, and how the purchase agreement is written between you and the end buyer).

I am no expert in this arena so I will certainly not pretend to be but do want to understand all you stated.

@Jennifer Handlin  frankly unless your an absolute expert at these types of instruments in your state I would not touch them.. personally... too many great deals in MI to risk these

I wouldn't consider myself an expert, but I do know the layout and general feel of the area.

Agree to contract in 18 months at the appraised value, when you do that, arbitration in the event of disagreements should be agreed to, such can be the average of two appraisals for example.I suggest, since you are a broker, you need to see your attorney to ensure this is a properly drawn agreement as you have more to lose and you'll be seen as the expert in the room if things go south.

@Ryan Watson As I understand it, and I am no expert neither an accountant, all income produced would have to go into your IRA.