If nothing is done by March 28 the city will tear it down, leaving the note holder with nothing but a vacant lot.

Instead, we are now getting moved to another State and have the property to sell in order to try and do anything reasonable at the new location.The area here is very depressed, lots of homes on the market and our place is higher than most and of course we have a high mortgages balance/payment.We recently had a couple come through that might be interested if we can swing a deal for them where they purchase a portion of the property (5 acres), with the house/pond on it for say $210,000; and we could do a land contract on the balance of the land, a little over 11 acres with little down and monthly payments.Their overall goal is to put as little down as possible, using his VA benefit, and I'm not sure they have more to invest anyway.The problem is I'll still end up with a lot of unpaid mortgage to carry with no real way to pay it off; although I guess I could re-fi the overall mortgage which of course will be 50 to 70K for a smaller payment as opposed to having payments based on 260K from the original mortgage.We leave here in 2 weeks and are getting a little nervous about all of this.

concentrate on one or the other and if your liucky, you'll make a decent leaving while starting out.you might find it helpful to get a job with a home builder as a cleanup guy until you get your license.

He is not able to leave the house with any ease.

It means giving them a financial incentive to leave now.

So I basically have seen two basic formulas on these message boards to determine whether or not a property is a good buy.For rehabbing: (ARV * 70%) - repairs = Max Purchase PriceFor Renting: Rent * 50 = Max Purchase PriceI would like to buy a property to Rehab, but be able to fall back and rent it if I can't find a buyer quickly... while also having positive cash flow after mortgage and operating expenses.If I put an offer on a property for $25k and the ARV is $50k (if I put in all new flooring, paint, and redo the kitchen and both bathrooms) that leaves me $10k (According to the formula) for repairs which I could likely do if I'm doing it all myself.BUT...That would have me with $35k into the property, and I am only confident of being able to rent for $600...

Crazy, but I did my best to let them know I was there if they had any Q's..Sometimes you just have to leave people to their own devices.

She leaves what is left of her tips for Ralph, the bartender who is working a second job to make ends meet.Ralph gives his meager earnings to his wife, Amber, who is desperately trying to stave off foreclosure after their ARM ratcheted upwards.The shareholders of the electronics store and casino, as well as the bar owner, invest their profits.

But that still leaves you in the hole.EDIT:I blew these calculations

If the renter leaves, or trashes the place, that's on us.