Payoff before that date and you will increase your credit score as the credit scoring system will consistently see ZERO outstanding balance in your credit card (or) NEVER have more than 3-5% of total credit limit as your outstanding balance on your credit card.These are based on what I READ and DO.

Your plan will have limits on the number of loans outstanding at once, typically just one.

They want to pay it completely in 8 years....If the 55K is enough to pay off all outstanding liens, then yes they can sell for 55K.I guess they can even buy it back for more money if that is their choice.The challenges you might face: 1.

that's a damn good.price

David JanashOther than debt to income ratio - you will be limited by how many loans you have outstanding.

Since I'm new to this industry, and being the usual cynic, I'm wondering if there is a possibility of any outstanding debt that would have to be paid on a property outside of the asking price.i.e. is there a potential for backtaxes?

Eventually I did write an offer but I was thinking "DAMN I wish I would have known not to say that!"

There are a couple of reasons why I am considering doing so, but before getting into them, let's see if I can understand the risks involved with reaching out to them:1) I might undermine the authority of the PM.2) I open myself up to that possible 2 a.m. call in the future when the the PM should be contacted instead.3) With my contact information, the tenant could potentially play me and the PM off of each other down the road, making the PM's job and my life unnecessarily complicated.I own an SFR in Indianapolis and am dissatisfied with my current PM because 1) they're not even based in Indianapolis and more importantly2) they don't always return my calls/emails and take too long to give me basic status updates on items like outstanding work orders.

If the sales price of your property (other than farm property or personal property) exceeds $150,000, interest must be paid to the government on the deferred tax to the extent that your outstanding installment receivables exceed $5 million.Tip: Keep an eye on the $5 million limit if you want to preserve tax deferral.

The owners told me that they would be happy if someone paid off the outstanding debt + $3k.