So based on that statement, given a median of $175K in an area, you are not going to buy in that area unless you can get something for less than $35K.

Very well said Chris.You have heard the statement "if you fail to plan, then you plan to fail" I am sure....so, with that in mind, I would define your goals.

Am I bragging a little.... hell yes I am, do you know how hard that project was:D James -I think the issue some poster here have is that you state things in a way that indicates you are the only one who knows anything, and that nothing you say should be questioned.For example, you use statements such as:"I will give you the REAL answer, as I see 99% of people getting this wrong.""

That's at cherry-picking time.David, everybody has their own business model, but to say that such a model has "way too much risk & potential trouble" is not a fair statement or a complete one.

If not hold off until you do reach an agreement.When the two of you do settle, make sure any agreement that you make includes a statement signed by this handyman that he will NOT file any liens and the payment he received completely satisfies the situation.

I think the house would sell very quickly (under 45 days).Details:ARV: $151,000.00 (low estimate) AVG DOM: 62 DaysSub-to note: $90,500.00 (waiting to get a statement with monthly payment info)Owner payment to close: $1,500.00Repairs: $18,000.00 Built: 1985Sq Ft: 1830The house was rehabbed in early 2000’s but needs updating (paint, floor, kitchen, bathroom, lighting, landscape).With all of the numbers above, my offer is $4.3K higher than 70% - Repairs but I figured I'm recouping that by not taking a HML.

You can ask them or get their mortgage statements.

Would you all agree with that statement?

She presented us (PM and I) with bank statements where it shows the payment they get from government and it also shows a savings, around $40K.She at first requested a 2 year lease which we told he we will consider after the screen, but then she changed her mind to 1 year lease as she will consider buying if they like Florida.The PM told me that during these times where the economy is bad and many people have credit problems, there will be issues finding "the perfect tenant".

Things like IRS liens, personal abstract judgments don't show up on a prelims but will pull up when you run a SI (statement of information search... unless you get this all upfront-which is best)... this means... you will have to get the IRS to do a lien release or negotiate with other creditors for a release so you can close... you want to make sure you're not working on deals where the seller has other judgments.