With a formula and stringent due diligence these types of real estate purchases are very profitable.

Credit is a measure of financial trustworthiness.

Several downsides to land contracts are the property is in your name so nuisance liens etc attach to the property, until recently you would have also been responsible for unpaid utility bills as well.With states getting more stringent on land contracts and forcing you to foreclose in many you are now better off with a mortgage and note.

If you adhere to these simple rules, you should be able to prudently use leverage without losing sleep, and will reap the benefits of buying more properties with the same amount of capital (more diversification to stabilize portfolio's overall operating performance, huge tax benefits).The fact is that in most areas real estate is still inexpensive by historical measures, based on ratios for rent-vs-own and buy-vs-build.

IF, big HUGE if, landlord was/is mentally incapacitated there is legal means and measures for that btu guess what, she will be a ward of someone/something.

And 36 Other Key Financial Measures (Frank Gallinelli) is a great book that I purchased many years back that's still on my bookshelf.http://www.amazon.com/Every-Estate-Investor-Financ...Also, from a general investment real estate perspective, The Millionaire Real Estate Investor (Keller/Jenks/Papasan) has always been a personal favorite.http://www.amazon.com/Millionaire-Real-Estate-Inve...

This is a very nice community for the town and I consider it a B property given the competition more so than our typical class measures.  

Hi, How do I give an estimate to a seller if I can't get a contractor out within a certain timeframe and I don't have the exact measurements for certain things? 

As the saying goes, "Desperate times call for desperate measures"; and wholesalers are there to 'help out'.  

Here's an example of the 2022 KPIs I'm measuring for a few of the properties in the portfolio.