This ROI should be higher than your WACC (this would just be your cost of borrowing if you own the property by yourself).All of my comments below assume you earn 10% ROI in your area.Option #1 Do nothing and ride out the ARM.

Are you Certain you can afford the monthly payments on this (i'm assuming 2nd) mortage?

Advise the lender on what you would like to do (pay the home off, assume the mortgage, do a Short Sale.....) and that you are trying to find legal help with probate.

Look, you have the house under contract (I assume you mean an option contract).

-Assuming technically and legally you could put such a thing as a nationwide MLS together (a HUGE assumption as MLSs and the NAR would spend big $$$ to crush this initiative), that's as many as 10,000,000 potential consumers of your product EACH YEAR.

Even assuming that you had ZERO out of pocket acquisition expenses, you still put another $7985 into it before you received ANY rent.

If you have never done this before (I assume not since you're talking about an FHA loan) then you might consider asking a local appraiser to help you out.

If you assume that you are going to get, say, $200 per month cash flow per property, that would be 15 to 25 properties.

Assuming that you put 20% down and financed about $154K your P&I is about $1020/month.

But the status still says "unpaid".Anyways, since this bill is 6 years old, I'm assuming it will soon be wiped from my record, within a year (7 years is the max right?).