I swear, continuing to have a tie to their problem house scares more people that saying you are asking them to deed the house and not the responsibility.

I figured, trying to find and close a good deal on my first home is a way to learn, and then continue on from there.

Please continue the discussion of this bad situation here.

Doesn't give you much equity if the market continues to drop.Thoughts?

If you're paying for the heat then I would seriously investigate geo-thermal systems.

This is not to say that an atttorney could not investigate and track down the owner, etc, but it would take many, many hours at $300-$400 per hour which will add up to thousands of dollars for the party wanting to find out the owner of a property held in a land trust.As far as getting "ratted out", their is a process/procedure to choosing your Trustee, and even if the trustee was looking to "screw you", there are many safeguards in place to prevent that.

I would get buddy buddy with a young hard working energetic Realtor who will help you out with MLS comps.With that said make sure you compensate your Realtor for their time - either by selling a property with them at some point in time or buy them lunch every once in a while or...something, - you don't want them to feel used, or they won't continue to help you.

Or rent it out and hope to gain equity over time via the principle payments and hopefully appreciation.Please continue to let me know your thoughts!

He will continue to bid against the other bidders until one of the other bids is at or above the upset cost.

To continue the above example, if you buy a house to rehab on Apr 1, you'll get a credit for three months taxes.