If you have enough income from other sources then you are Ok.Another problem.

Turns out the previous owner who was long deceased somehow received a loan from the department of public assistance (obviously an expired program) against the house.

If you become a paid member on here for PRO on BP there is a program that does something similar for valuation although it does not have near the functions that this program has.

I've taught high school economics for 11 years and labored through a couple of grad school programs, most recently an MS in finance that I'll finish up this year.Outside of being a homeowner (and a partial owner of family land) I am new to real estate investing.

Many, even most (but not all) realtors are not going to take kindly to low-ball offers from individuals that are bring buyers to pay more for a property and cut them out of a greater commission.Third, buyers can get access to MLS listings (including REO) though other agents and online sources.

Make sure you don't by an expensive software program to do this.There are products sold based on saving mortgage payers thousands of dollars.All you have to do is what Steve said above...and it is free!

Of the 3 primary heat sources of gas, electric and oil, gas is by far the cheapest to operate.Propane is a different story and is a oil by-product in gasoline production.

This has also limited my ability to try out direct mail and other sourcing ideas.

Borrowed Funds Secured by an AssetBorrowed funds secured by an asset are an acceptable source of funds for the down payment, closing costs, and reserves, since borrowed funds secured by an asset represent a return of equity.

I saw a great write up about BP on another blog that was discussing RE programs you have to pay for in Houston, ie, Lifestyles Unlimited.