Hello BP Community,As I have been researching developing markets lately, I have taken the time to immerse myself within my community that I live in to learn more about my immediate market. I currently reside in Glouc...

sounds like you have dealt with all the sharks.. if it takes a really long time to evict someone in that state your best bet maybe to let it go to foreclosure and if it bids up which it could if your buyers are already offering you whats owed. they would not do that if there was not equity above whats owed. your mom would get the overage as long as there is not junior debt.also since her credit is trashed and if you can handle her housing.. she can just stay as long as possible until she gets evicted and then just walk out the door..

My lease is going to be up soon and I want to move into a house that I can fix while I'm staying there.

BP is an excellent community to be apart of - just stay connected and stay tuned!

God Bless and stay focused !!!

It is currently still a work in progress but we plan on staying for ten years.

Usually you want to stay under 40% debt-to-income but I see loans at 45% get approved all the time given they have compensating factors.

Like any manager, got to stay on top of them, but I use them for my rental in Benton, and have even done maintenance for them and they are good.

It would stay in his name until you've exercised the option to buy at the end of your agreement.

Congrats Jodi,Sounds like you got a deal and times it right Hillary ,I’ve been listening ok’ing at flood deals for a while now , from the deals that came my way the wholesalers are looking for 60-50% of the ARV , that doesn’t leave you much room for error , market correction or stigma of a flood home even in a good area .Take off 10% for commissions, legal  & closing on sale , you are looking at best a 12/20% return on investment .Now imagine if the mold situation comes or contractor goes over budget , you may be stuck holding a wet bag If your plan is a rental than at least you have a plan B in place For the best upside of 20% I’d stay clear Of course if you can purchase at 35/45 From ARV that may be worth considering IMO the Flooded homes are going to be in the market for a while - based on the fact many owners are just hanging on and not paying mortgages .