The asking price for a 3800 sq ft home was $150K; county tax assessment $279K.

I've read that the payout ratio on title insurance is ludicrously low - would it be cheaper to simply self-insure and do the raw research myself (go to the county courthouse and verify good title)?

I chose to educate my self and learned a great lesson in the process of speaking of what I know and asking question when I didn't know.Hang in there and discuss RE with those who can support you!

So I've gone to the Hall of records to do a title search my self.

I did all of the work my self except for getting a roof put on.

Here is a direct quote from Washington DC's Office of Tax and Revenue:"Legal fees due and owing to the Tax Sale purchaser should only be paid after the taxes, assessments, fees, and other costs to the District of Columbia have been paid".Stay blessedKen

You may feel quite strongly about your interpretation, but I will leave you with the often-quoted words of Federal Judge Easterbrook: "Some people believe with great fervor preposterous things that just happen to coincide with their self-interest."

I would love to get going as soon as possible but i just do not know how, so i am going to be reading books to try and learn the ropes.i greatly understand that learning first hand is like no other teaching i could have so i definately want to do this before college. i actually wanted tobuy an acre of commercial land now and put 10-20 self storage units on it, and run that while i was in college, just for the experience as long as i didnt lose money, atleast not a great amount. my dad however wont help me do this, and i dont know how to do it on my own.i am applying for my first credit card next weekend, so i can start building credit.

So I figure I have to do this my self.

Also you will lose your "annual increase in assessment" cap when it ceases to be your homestead.Your last line says it all: My other concern is that keeping this as a rental forces me to buy the new house with an 80/20.