Other than parts of Houston and east of there I'm not sure TX has a higher proportion of foundation problems than any other state, at least not ones NOT caused by poor construction to begin.

Your best bet is to review a self storage rental agreement, and work from that.

Are you betting on appreciation?

As far as a team I can do small things but I also have a few friends who do construction work and can do anything in homes really.

Prices have stabilized a bit and some price drops have been talked about.some suggest waiting a few more months for prices to come down a bit.LOTS of condos for sale as well as well as many new ones under construction.

If this lease-option "buyer" is a relative newbie (and I'm betting he is), then I would NOT do this deal.

jchrisd; I'm going to go through your post and pick out a few points and try to add some constructive criticism.

One I cosigned on a mortgage her her first duplex, the other made money in his own property management and light construction business and he bought his first rehab to turn with his own cash down payment.

If the prime rate was to climb a few points, I am willing to bet all the banks will jump back on board.I have not had a problem with my HELOC from my credit union to date (knock on wood) and they seem to have the lowest rates, lowest fees ($0), and the simplest approval process.

Tim - I'll bet your Dad taught you the meaning of real work, something far too many don't know much about.....