The only positive in RE these days seems to be in locking in a low interest rate, but plenty of "forecasters"  see rates rising very slowly.  

In this rising market, I have focused on buying the "cheapest" homes in my target markets.

@Jay Hinrichs Thanks for the details explanation with the chronological events that gave rise to the word 'turnkey'.So am I correct to assume that a turnkey will have a property tenanted and cash-flowing from day 1?

One other thing to note is that all the cloth covered Romex wiring from that era was only certified to a temperature of 60C, where as today's NMD-90 is operational to 90C.  

It's an odd feeling to realize you're excited when the temperature is in the positives.  

Depending on your market, if it is still a rising market, tell her the truth, it will cost you money to sell now/early.

@Thomas Graves This article says that in MD foreclosures are on the rise!

But sale prices on the back end have not quite caught up to the rise in purchase prices.

Thanks for the replyThe agreement that was sent to me says that there wont be a balloon payment but does say interest can rise to 10.5% in 5 years, is that what you mean

I have purchased three condos in class A high rise residential building in the Phoenix area paying an average of $155 per square foot.