Here's an absolute newbie reply.More for practice for me than anything else.Will an expert double check what I'm thinking here?

Upcoming area of New Jersey Essex County.Single Family: 3 bedrooms 1 & 1/2 bathsAsking: $180k [negotiable]Repairs: $25 - 3okBasement is unfinished, kitchen needs updating and kitchen ceiling needs repair do to plumbing work done.

I buy every house for cash, I don't mess around with double escrows and unless its a particularly huge sub-division or something like that, its all self funded.There are a couple of things I wil NEVER do during a shortsale:1) Charge an up front fee (or any fee)2) Deed the title of the house into my name or another LLC (unless the circumstances deem it, but I would really rather not get into that publicly, and its only in the interest of the client)3) Lease back a home to someone who is losing it (another predatory Habit that lawyers aren't fond of).

but last time that happen it was apain in the neck so I was thinking this is good. so this is what he give me.I plan on wholesaling this deal for 10,000. single family residential:2 story 6 bedroom 3 bathsqft 3720 FMV 560,000 loan 80/201st Lien Amount Due 09/01/2007 as of 08/30/2007 $4,163.00After Sep 17, 2007 late Payment $4,352.23Principal balance $434,173.862nd Lien Payment Due Date: 12/18/07 New Balance $152,567.88 Minimum Payment Due: $7,008.70Past Due Amount: $5,714.56

Improperly withholding money from a security deposit is subject to double or treble damages in some places.

This can be tricky and filled with traps for the unwary..Exactly right and that goes double for a sandwich lease-option.Mike

Just got my first year under my belt and look forward to at least doubling what I have done this last year.

Stove, Refrigerator, Mini-Blinds, Toilet, Bathtub and etc. including entrances to all apartments.Now - I am a property manager, and have done inspections.

windows, so could add another 800sq ft, at least one bedroom and a bath (already plumbed)asking price is $199k, needs $30k of repair conservatively.Comps for the house come in at $250k for 5 br 3ba.

Can an assignment of contract or double closing be set up in so that the title company does not begin the title search until I have a buyer?