One point of consideration is we love doing the renovation work ourselves but it's slow and physically taxing.

OK, here are some evaluations for your consideration.

You are not taking into consideration how to value this building...No income is presently being generated, therefore, how are you guys determining the $400k price or any price?

And what makes it binding (no one can steal deal from you) is that there is consideration ($$) ie an earnest money deposit. with short sales you need more paperwork hardship letter, authorization release, taxes stubs and a couple more items.

Buy, I did have to laugh when I read Tim's comments about when the older residents (in Fa.) start dying, LOL, You strat dying the day you are born, at your age Tim, you just haven't realized that yet. lolTim, a consideration for your micro analysis with a business savvy people.

Agreements in the lease agreement can lock in rents in consideration for those increasing assignment fees!

My lender is saying that a student loan does not need to be taken into consideration when computing DTI if the payments are deferred for 3 or more years.

You also have to take into consideration carrying costs, realtor commissions, rehab taking longer than expected, market changes, etc.Those don't look like great deals to get into, esp. that large of a investment to get such a small return.Lastly, what does your CMA say about value after it is rehabbed?

If you are paying 91k before repairs and the ARV is 130k, the property does not have 39k in equity.Also, you need to take into consideration your costs to sell the property.

I would also like to know why when i searched the property records I noticed this person had 4 properties that had quite claim deeds and they all were with a "consideration of $1.00" can some one please explain what this is all about.I think once you guys teach and advice me about the whole DEED thing I will be more comfortable making deals.Thanks for your time its greatly appreciated