I'm betting a lot of money this is how it works :-)

Bakersfield, I can't say for sure but of the 3, I'd say that is your better bet.

I'm sure thats probably not legal but I'd bet it would be a huge legal mess to have to correct and some really tough sleepness nights waiting for things to get cleared up.Get the title insurance and get your sleep.

Do let me know how things progress.

Please keep us posted of your progress!

This area didn't crash hard and has pretty much bounced back to or above previous highs so it isn't the worst bet in the world.Also if you are in it for the long haul in 20 years you can be making crazy amounts of money as rents go up and your payments are fixed, or get paid off.

…I'm in the Dallas area too…hang around the site and you will learn a ton…look forward to seeing your progress !!!

The links at the very bottom may be the best bet.

You will not lose...it's like betting on green and green already came up.

I bet that your buyer on that one figured the ARV to be more like $130K and the repairs at closer to $10K (Assuming that your assessment of what needed to be done is close) and that gives you a MAO of just over $80K.It seems super unlikely you are presenting any deals that have $60K profit in them.