Includes garage/storage building.With very conservative underwriting, it produces a CoC return of 16.78%High level monthly expenses:Vacancy $45.00 (5%) Repairs $45.00 (5%)CapEx $45.00 (5%) Insurance $60.00 (7%)Management $108.00 (12%) P&I $331.89 (37%)Property Taxes $59.17 (7%)Total $694.06 (77%) What made you interested in investing in this type of deal?

I don't but I bet my wife does  her maiden name Is Lori Wika and she ran the C 21 office in Longview / worked there and was a top producer in those years... 

A quick google search produced the Neches County listing  http://www.nuecesco.com/county-services/county-clerk/filing-department/foreclosuresRead the directions carefully.

Hopefully, he will be able to stay healthy and pay rent on time.

I would caution that if your tenants are already under contract on a new construction purchase, which it sounds like if they're far enough along that builder is "pushing things longer than originally planned," they may be more financially locked in than they think, so have them produce a release agreement before getting too involved in your sale.  

I'm brand new in real estate investing and my primary goal is to hold long-term single family homes under $50k in areas with a healthy economy, decreasing rental vacancy rates and population growth.

Cast a wide net and think along the lines of how you can make this thing produce fruit.

Doors with direct access to the pool through that wall shall be equipped with an alarm which produces an audible warning when the door and/or its screen, if present, are opened.

Paying off the debt will save 6% interest while buying the condos will produce about a 10% return.

It seems like it might produce a better return than the market a lot of times, plus the money gets repaid back into my 401k and the "interest" on the initial loan goes back into my 401k as well.