Used to be, a REO was distressed in terms of ownership, and the discount was less for the distress of the property, and more for the as-is nature of the sale.

Moving to Cleveland to embark on this real estate adventure while most may think is insanity, was very natural for me and I am learning so much here.  

Receiving adequate funding from loan for purchase price and reno budget to based on the Homestyle LTV and ARV.3.

Part of it is probably just my nature, but I'm not someone who dwells on negativity for too long.

Originally posted by @Linda Weygant:Bear in mind that if you are charging way below market rate for rent, the IRS may (in the event of an audit) impute a market rental rate into your income since you are renting to family.Thanks for sharing this specifically, as it's family the natural inclination is the keep their expenses as low as possible as long as we are covered.

Since you know their natural gas bill is not being paid, better check to see if they are behind in their other utilities as well.

According to Missouri Department of Natural Resources, machines this old may contain hazardous PCB's and should be disposed of by a professional.

Newly married and work in the natural gas industry and am looking to start investing in real estate in the near future.

Financing is similar to houses - need adequate credit score, a down payment and verifiable income.If it's on land and NOT attached or in a park it can be financed.

We're pretty pumped about it, but because of the nature of the property, we lowered the CapEx, which could be higher.