I would hold and rent.I am not familiar with the market in your area, but I wil take a stab at it and say it is not a sellers market.A few months or years and the market may change allowing you to sell quicker for more money.Plus, you know this property intimately making it easier to maintain.

There are a fair amount of REOs on the market and some are selling (our local paper lists the transactions and one week the "sellers" of 32 of the transactions were lending institutions).

In short, I can't just cross my fingers and HOPE they won't call the notes due without some addional assurances because if they did, the consequences could be devastating.I've heard people say that the bank would be foolish to call in a performing loan, but I also think that in todays climate they are more concerned with maintaining solvency than maximizing profit.JMac

Question to all: I visit www.huduser.org for the Fair Market Rents, but is there any other tool/website that will say what the rent is in a particular City (and County unlike www.huduser.org)?

An old single wide can be stripped and hauled to the scrap yard fairly easily-- there's not much holding them together!

I'd read $5000 as a minimum here and elsewhere, and it seemed fairly reasonable as that's approx 3% of the average market value in my target area.

On the other hand, I won't let my siblings take what would have been mine EVEN if it costs me more in attorney fees to get my fair share.

We do a fair amount of multifamily too (mainly larger complexes), and have found expenses on smaller complexes (10-50) can be quite a bit higher per door and are often under-reported by sellers and management companies.

No, it definitely is worth it to me to make sure I get what my Mother intended to leave me, and for my big Sister to do the same, equally, in fair shares to us both.

I was once at a yard sale and a guy had a fair amount of bathroom fixtures, towel racks, etc.