Just looks like a good market in terms of rents in relation to prices, plus it's a decent size city that seems to have a fairly diversified economy...

You might want to post an introduction in the New Member Intro forum.I split your post into its own thread, rather than tag along on an old one that was only somewhat related to your questions.The state P&S contract is always a good starting point.You would do the transaction with a title company or attorney (whichever does closings in FL, I'm not sure.)

I also read through a number of legal articles, paper, the Texas Property Code, etc. and I can't find anything specifically relating to how we gain an interpretation of this from someone empowered to do so.

Borrowed a beatup pickup from a relative (after they repod mine, that was a fun day) and started working for a rehabber for peanuts.

And I adjust the expenses by removing items that are related to the seller’s financing (unless I’m assuming it) such as Amortization and Interest.

If you want us to value the deal, we need to know what you expect, 11K at 10% is 110K but what contributions do you need to make that, you don't get 100% financing.Here is something to consider with retiring landlords, if they are in good health, seller finance it or much of it.

Sounds like the seller is in failing health and needs someone to work on his investment to turn it around.

Of course, with this being said I just realized that a have a buddy of a large health company who does lots of investing that could probably help me out with that one....

Looks like you might learn more in the "related discussions."

Then again, in the short time it can take to flip a house,relatively speaking, appreciation could be negligible in either market.