I have been to the Alamo REIA.Here is a deal i have:-Property worth $55,000-60,000 (Owner owns it free and clear)- I have it Under contract for $50,000House is in move ready condition.

A rehab and sale can take well in excess of 4 to 6 months.Lastly, lawyers and professional organizations can be expensive and eat well into your capital.

Brand new condition.

Hi Neil,This is a great market for real estate investment, with all types of properties in carious conditions, and just as diverse of an investor base.

I still have a BOA mortgage w/ 21 more years on it (technically, but I know I'm ahead on that) that I plan on keeping and paying down as quickly as I can afford.My friends have almost no money to put down and I'm planning financing them.I have a lawyer who I've used twice in the past for traditional purchases (one bank financed, one cash) and she assures me this is not a difficult thing.My friends have agreed to my asking price and my terms of the loan.We are getting a small premium on the sales price of the home and are loaning them the $110,000 at 6% over 30 years.We still owe about $75,000 of the original $91,500 BOA mortgage which is at 5.875%.I talked to my Allstate agent and she said we'd have to switch from homeowners to a Landlord policy.First question, does this sound like a fair deal for both parties?

Hi Lyndsey,There are no laws in Ohio regarding application fees (standard I am not a lawyer disclaimer and this is not legal advice.)

I'd have somebody do an assessment of the property if possible to evaluate the condition to verify.

You can't touch any SFR regardless of condition for under $750.00 and it is a POS, but that is just in Ofallon, not sure of St.

Your target should be based on your cost of funds and market conditions, your efforts and management, known and estimated costs as well as tax benefits.

I have tried Zillow, redfin, hotpad, homes.com, relator.com, trulia.com, looked in the tax records, sitexdata.com, and a few other pay sites.There are very little comps I can find, I mean like scraping the bottom of the barrel may be able to find 1-2 recent sales in the entire city area, not even in the same neighborhood, conditions or anything.