Hi, I am looking at doing a rehab and addition on an older home. 

Hi, I am looking at doing a rehab and addition on an older home.

HD has its own in-house brand (Allure).I'm never an advocate for taking shortcuts in rehab and find it frustrating when we acquire a property which has been treated in such a manner.  

I'll comment just quickly since this is a welcome thread.I've used both sub2 and MLO as steps to acquire buy and holds.  

@Bill WilliamsNew Mexico is one of about 9 states that has a Community Property right between married couples, which includes ( as I understand it), as stated previously, the home acquired prior to marriage belongs to the individual, not both of you; hence she would have the freedom to sell or mortgage that home anytime, without your consent involved.Any income earned from such a separate property belongs to the individual, but if you choose to share bank accounts and 'commingle' funds, and the house is sold, those proceeds placed into a joint account become community i.e. both of your funds.Community property is acquired by either spouse during marriage, and selling or  encumbrance requires both of your signatures.  

I would make sure your insurance quote includes additional fire coverage.

An additional benefit of purchasing an older building is providing an option for converting the building to a Single Family.  

In addition, you can always look to Lease Option a property FROM the owner, and Lease Option the same property to your Tenant Buyer.

Was really only looking for additional information that some of these senior landlords may have gathered throughout their years. 

We have kept a few and add them to our portfolio of foreclosures and estates that we acquired through normal purchase at 50 cents on dollar - I'm a bargain hunter!