I'm definitely in the same boat as you.

Before you say, why not, what's the harm, let me explain that the wife is, unfortunately, suffering from dementia and she's extremely unstable, difficult, and paranoid, so there's something to be said for keeping a low profile and not rocking the boat.

Acquiring title to the property is one thing; assuming the decedent's mortgage is another.The personal representative is the one who (presumably) has the capacity, powers and authority to transfer title.

The FHA appraisal came in at $250k, which surprised us a bit... but more power to the buyer.

Other examples: add personal property collateral (titles to vehicles, boats, etc.) establish esrow accounts via third party (attorney), etc.

As someone who's put down 20k on one of those guru training programs(The usefuleness is debatable since it did propel me into action), I can tell you that there's nothing that digging up some willpower, sitting down and doing some self studies through BP, and spending $100 on real estate books and attending REIA meetings and building relationships with investors/brokers/power team members in your market can't teach you.I'd discourage starting off your RE investing career by taking the easy route and trying to get the lessons handed to you when hard work and experience is really the best mentor you can have.It's been said many time, but if you are able to find a good deal, there will be more than enough people/firms willing to fund it.

I always viewed many HOA's/property management companies as groups of people who cannot excel at anything professionally, so they do that and get a ego/power kick out of their newfound 'control.'.I do not know if this is state by state law or not.

You are borrowing now and paying back dollars with a lower buyer power than they have today.

I am unsure of what goes into brand new construction, such as creating a brand new residential address, hooking up power lines, water, waste, ect -In the area where the land is, a 1600-2000 Sq ft house will sell between $660-710K -- 2000-2500 sq ft between $700k-750k -- 2500-3500 sq ft and up will sell for 750K-950K.

At the very least fix the AC and Exchanger put a water heater in it new power metor and pole and gas hook up..