what happens if the market decides to change direction after summer and I'm in mid rehab on a property that was AT market value on purchase b/c everyone and their mom decided to be an "investor" of the month??

With summer coming I've been reading the posts on Vacation Rentals, and the blogs that have been written on the subject lately.

While not exactly Guerilla Gardeners - they ask permission before planting - there is a local community garden group which relies on residents to donate a plot in their yard for growing goodness during the summer.

I feel like it will be adequately cooled in the summer (even though the property is in Alabama) because the space is mostly underground and the cool air will naturally flow to the basement.

Hi Zachary HarrisBill Gulley and Mike LaCava bring up good points.It is an exciting spring-summer for lease option assignments or wholesaling lease options.As Mike LaCava was saying there are benefits to both sellers and buyers to sell - buy on terms.An article in the WSJ a few months ago says prices are up but inventory is down.3 of the 6 reasons had to do with:1.

I am currently a full-time student that has decided not to return to the "workforce" this summer and take full advantage of this opportunity.

They planned on not making another payment past this summer.

But, I sold a house last summer with extensive mold damage throughout the attic and the mold had spread into the main bedroom ceiling drywall.

As far as the contaminants, this lady hasn't done anything so I'd have to get my home inspection to pull out any of those issues.I've got the expenses from our local utility companies (average for past 12 months).Gas & Electric - $250Water - $678Insurance - $250 (this was an estimate from other 4 fam around this age I used)Maintenance - $41 ($125/unit for year )Landscaping - $25 (this is really just snow removal of garage area during winter and my cost of fuel for cutting grass in summer)Taxes - $317 (from county assessor)Approximate Exp - $1,261Income (with 10% Vacancy) - $1,777.5 (I put the vacant one rented at $525)Thats an NOI of only $517.50/month.Looks like I may need to keep on walking from this one.

The building is already grandfathered in.The tenants #1 complaint is the HVAC in the summer and winters.