I updated my profile and am including the blurb about myself below.My name is Ken, and I was formerly involved in residential real estate sales, part REALTOR and part assistant to another REALTOR.

If you are relatively new, I would strongly urge you to attend a number of Sales first, observe which Investors are bidding (they are usually regulars with Cash or Credit-Lines), evaluate the properties that are being advertised and sold, including the figures (numbers), then determine if you are ready to play with the players.

It may be that the city hasn't updated the taxes in decades or that their valuations are off.

Despite the fact it's in good condition, it could use some updating and TLC.The home can be purchased for $349,900, and the seller will do a wrap on his existing first mortgage.

Yes...I try to post the offer regularly.

Instead I write seasonal articles and save them for when they're useful- I recently wrote something about halloween - I won't be able to use it for a couple of months, but it's there ready :)I envy people with the discipline to write on a regular basis.

Also plan on doing some updating to it.

I'll update with a link to our civil suit as soon as it's filed.

I'm glad I was "sorta kinda" on the right track.Much appreciated, Oh, would I be correct in saying that I would be treating the profit on this as regular earned income and not some other more complicated thing?

If the closing is similar to a regular house closing, could I expect or try to negotiate any costs into the final price and you said before the title contingency is not necessary (of course an inspection though) -- is it automatically included as the bank had to do this anyway when they assumed it on their books?