Cleveland can be a tricky market as you likely want a good balance of cash flow but not being in high crime and high vacancy areas. 

Account Closed If the house is worth less than the loan balance, then the heirs would have to do a short sale....and yes, it must sell for at least 95% of a current fha appraisal.  

The local HUD housing authority pays a portion of the rent and the tenant pays the balance. 

I'll have to strike a balance between personally reaching out, and then falling back on more impersonal forms of communications if he does end up getting upset. 

Is an interest only payments so you pay interest only for 11 months and month 12 1 balloon payment for the balance. 

I'd be happy to share any other details about our balance sheet or 'big picture' if you think it's relevant in terms of evaluating our options with this property. 

Wanted to see what the community's opinion is on it and if they feel it could be a good idea.General Info on my situation:Primary vehicle: No payments but can't use as Uber (it's heavily modified)Debt: ~9k in CC (0% apr/21 months due to balance transfer)RE Goal: Build capital ASAP to put myself in good position to purchaseOverall Budget: I make good money and after bills/expense I still have a lot left overI was thinking about purchasing a economical vehicle to double as my daily driver and Uber on the weekends for extra income to put towards RE goal.

So, if the card is $500 make sure you use less than $400 on that card during the month and when you make your payment pay it down leaving about $50 - $60 balance.

If you take the estimated appraised value on your house and multiply that by 80% (most typical), 85% or 90% (usually the maximum a lender will go and the higher Loan-To-Value you go, the fewer lenders you have to choose from) and then deduct your first mortgage balance to see how much equity is there to lend against. 

When you are opening the deposit account for your plan, some banks have minimum opening balances in the $25-$50 range.A few ways to work with limited 401k asset balances are to use non-recourse financing (whether from lending institutions or from private lenders), partnering with others, and investing into different asset types.