And am not looking for anything more than the contract price .

I am not sure if it is a smart decision to use part of the $40,000 to pay off that car and just put the payments into the new mortagage for the next 10 or 15 years or just continue to make the car payment and use that total amount of money im getting for the down payment for my next 1 or 2 investments.

This is why it is advisable to have the replacement property under contract ASAP, preferably even before you close on the sale of the original property.....time is not your friend.

I want to put a 3Bdr 1Ba 1,328 sq ft Foreclosure property under contract. 

I would think that the contract would only allow a few days to verify title, inspection, financing, etc?

If you end up getting some properties under contract on the west side of Lubbock shoot me a PM and I'll check them out.

As an investor, are you allowed to get someone under contract who's already signed a leasing agreement with an agent?

I even heard it said one time that equity is where smart money goes to die. 

He has setup my LLC, as well as he reviews contracts. 

@Dillon Seal   Most HML have it in their contracts that you cant live in the property until you are out the loan.