I'm close to maxed out on the rehab budget, and the $1900 for the 1st Instalment of Property Taxes would be a decent hit to my remaining cash/budget.

So $70 - $7k - 50k + home imps = $13k gain on sale or so taxable at capital gains according to your regular income tax bracket (15-25%).Then gift her the remaining money tax free.

There is no point in purchasing a property in my book, if my "profit" goes out the window when I sell it, even after the rehab.4) Keep asking questions until you get answers that satisfy you. 5)  Once licensed, get a small box of business cards, and find a way to give them to anyone who will take one.

You may even need 2 different lenders to satisfy both the warrantable and non-warrantable choices best for a condo.  

If there were no prepaid rent, the tenant most likely would simply give notice and walk out of the lease, and the landlord would have a difficult time enforcing the remaining balance of the lease, as this would probably be considered a good reason to break a lease by most judges.

At this point it's mostly interior cosmetics and bathrooms (full gut) remaining, about 8 units.

It does need some work but mostly cosmeticsHere are the property details:Purchase price: Owner doesn't have one1987 14x60(singlewide)2/1rehab cost: 2-3Kowner holds a current mortgage with a remaining balance of $18,600fixed rate at 6%PITI:$400property tax: $588Land value: $18,900(sits on a double lot for a 9,000sq/ft lot)Building Value: $22,200Projected rent: $850/month plus utilitiesComps: It sits in a neighborhood of mostly doublewides and modular homes so my comp pulls were insignificant The seller is not overly motivated.

Here's to hoping we get the remaining balance!

I am quite satisfied with the program.

See the mortgage will remain in the sellers name, and he was saying that there was some escrow from the payments he made last year. he received some sort of statement and wanted to keep it. so since the mortgage company will not mail a check he was saying if i could cut him a check.