His house is in OK condition, and the tenants are moving out soon, and I should be able to rent it for 500-600 mo.

We fill out the condition report as we think it to be, go room by room, and hand note anything they notice, have them sign it and initial each page.

Ya........Military spending is 1/6 of spending, but there are large swaths of that budget that are NOT "military" in nature, including (of all things) research into treatments for autism, lawyers to provide guidance regarding 'equal opportunity employment' and I could go on, and on and on......

Property I'm looking at: asking $60k but willing to negotiateCurrently rented for $950/month but tenant will move out earlyNeighborhood is all SFH and primarily owner occupied.3 bed, 1.5 bathHouse is in great condition, big yard, nice deck, appliances and flooring are outdated but clean and in good working order.Here are the 6 month comps on the block.

(I have a lawyer friend who could draw the contracts).

I would be tempted to talk to the contractor, your lawyer, and consider it.

The other, I half-heartedly tried to rent then realized I personally couldn't tolerate its class C- condition and am renovating it right now.

This means that the physical Title and/or Ownership must convey day one to the new tenant-buyer(s).When you stated earlier that you may "become the bank" remember that you are not lending physical money to anyone, the payment plan you create with your tenant-buyer is simply a condition of the sale.

House size, condition, what repairs are needed?

Please can any one share their experience and adivce me the right steps to take.We will be meeting with the lawyers to discuss the matter, but would like to get educated before and have our questions ready..Thanks in Advance.