They will take 8-10% but will save you a lot of the headache of navigating these questions from another country.

Say you pay it, stop the foreclosure, you just paid someone elses bill - you saved them for foreclosure - that is a nice donation you made.

Currently, I bike and take the bus to work to save on expenses from owning a car, I meal-prep once a week and eat out only occasionally to save on food costs, and I strategize my regular spending to receive the maximum cashback.Looking forward to interacting with this community and learning more about making smart investment choice.

Trying to determine if this is reckless or sophisticated investing....The idea is that annual percentage increases and the possibility of rates lowering will allow for positive cashflow.

The tenant thought I was the maintenance guy so I let that idea stand. 

I don't like that idea at all.

If you are interested in talking real estate investing and digging deeper into any of these ideas don’t hesitate to reach out!  

Your rental income and expenses would end up on your personal return and could net to zero, but not be deductible (unless you have real estate professional status).Bill does have a good idea about living in a residence for two years, fixing it up, and selling it with the exclusion (up to 500k for a married couple), if that was something you wanted to do.  

It should, it would be a good idea to get a record of it from the old owner. 

I had no idea this was happening!