Seller then backed out of agreement for crawlspace insulation (which we elected at the time not to push), however the additional work of the french drain/sump pump does not meet Form 34 agreement.At this point, the seller is offering a minimal credit (not enough to cover the outstanding work from the Form 34) and not addressing the issue of the crawlspace insulation originally agreed to in writing prior to the submission of the offer.

If you have it re-rented and leased signed prior to them moving out, then let them know that when you conduct your walk thru and everything looks good, you will give them their deposit back right on the spot.

Now seeking real estate lawyer to get the prior owner out and me in to do the reno.

You could ask the owner any receipts for things he did prior to move in?

Contact a "skip tracer" and pay the $250 to find the owner and see if they will Deed the property to you if you pay the back payments, taxes etc.2) It depends: If you buy a property prior to foreclosure, (it has to be from the actual owner not the bank) either you or he has to satisfy all liens.

When I look the property up on the county website it is zoned single family.It's an older home so I assume it has been divided and added to over the years, probably prior to rigorous permitting and zoning laws.I would like to ensure that everything is legal prior to possessing the property, and imagine I would need it to be so to use the rental income towards the loan.So I guess the questions are:Is it silly to think this could be re-zoned?

If you find one of your "soon to be inherited" tenants in there with landlord issues, insist the seller terminate the lease prior to closing - its a nightmare you dont want to go through (trust me on this... its a complete waste of resources).

That's good to be cautious, also make sure it is tenanted prior to closing or that they pay you the rent out of their own pocket until it is tenanted.

I suggest you do a bit more research prior to coming on so hard.Cheers.

Try to get prequalified for the Cash-out Refinance loan prior to purchasing the property.