A good resale value note will be well seasoned (over a year of on time payments), interest rate of 7-9%+, balloon is a plus, in short foreclosure or highly desirable state, good equity in the house, and created by a licensed Residential Mortgage Loan Originator.If note is poorly created, mortgagor can walk away with a free house that mortgagee cannot even foreclose on due to possible broken laws or poor paperwork.

Access to 9 or 10 figures of government and business capital (let alone $58M) did not save them.It didn't matter if his dad gave him a $5MM or $500MM loan, walking into a room to build rapport, convince the other party that you can close, that you can revitalize the area or the city, that you will get bank financing, etc. takes a lot more than money.$58M.. by the way, the left media has already thrown around so many figures of this supposed loan from his dad, I think I have heard at least 8 numbers already.

Yes, paying but I like a contractual relationship rather than a mentor who I'm not sure how much time I can take from them, etc. and that will hold me accountable, has done a lot of deals and is truly doing it and I can learn a ton from in addition to all the other supplemental podcasts, books, forums, meetup groups around MF.  

His house is very close to downtown, less that a 10 minute walk to the train station (where people commute to Manhattan in ~35 minutes) and the schools are some of the best in NJ.

If you decide to go it is in the big side room on the left as you walk in.

@Dakoda SpencerZillow shows tax information but you will also want to verify it on the town website because there may also be an additional town or school tax.I would probably pay cash for the property if rent is going to be so low because you will need some money to cover ongoing expenses.

And, in addition, Landlords provide a bucket of salt for tenants. 

If your looking to make an educated guess base your value on the homes that have sol and then add you best guess as to value of the additional land.  

I'm leaning towards letting it roll over to the month-to-month because she has been good tenant other than the few late rents.Other than being late, she has been a good tenant, no damage to the unit in my walk through a few months ago to replace the furnace filter.   

Get ahold of me if you ever have questions or need additional help.