Hello BP,I came across a property (SFH) that is offered for sale with the following clause:Buyer will accept with a quit claim deed-no title insurance, assume any liens, code violations, fines.The property is owned buy a bank but I wonder what can possibly be so wrong with the title that the bank cannot fix it and want to quit claim it to a buyer.

I completely overlooked the mortgage fees.

After a completed first purchase and property management have proven themselves, then I consider it a lot less important to return to the area for a first hand look at additional properties.

Say for instance, homeowner decides to back out of deal once started, decides they dont want to sell once renovation is complete etc etc?

Here is a part of the letter, I sent to the seller:The home inspection was completed on September 29th (please see attached) and the following issues were pointed out: 1.The wooden floor frame in the middle unit is deteriorating due to either prior water leak in the bathroom or due to moisture infiltration through the walls and foundation.2.There is evidence of significant settlement under the middle unit bathroom and north closet.3.The settlement of the floor and walls has also resulted in settlement of the roof frame above this area, ceiling shows cracks.4.There is an obvious depression on the roof – water is ponding on the roof above the middle unit, which adds excessive weight on the roof and potential for leaks.5.Asbestos containing material has been found.6.The current bedroom heat installations in the north and south units pose a safety hazard from carbon monoxide, fire and oxygen depletion.7.An electrician performing upgrades did not use ‘arc fault breakers’ in the north and south unit breaker panels, which is required by the national electrical code.8.Upgrades to the electrical system, promised by a real estate agent, have not been completed yet.

Nick Rose I just completed a brrrr with a sfh, bought house for $34k put $10k in rehab, all in $44k.

That makes complete sense.

@Tyler Wade I currently deal with about 25 to 40 properties a month here in San Antonio and from my experience I can't completely agree with @Jonatan Barbera on the flips.

With a current value of about 32kProperty 2, needs re-habing and will also rent for $750 once completed.

You potentially completely mitigate taxes altogether using the 1031.