See these other threads where I have posted more details about this:http://www.biggerpockets.com/forums/93/topics/74037-great-wholesale-deal-but-little-time-what-do-i-do?

To add more detail, the child still has not had a court date, been convicted or pled to the charges.

I dont see why this couldn't work as long as all details about how income will be split and how expenses will be split.Does anyone have suggestions as to how we would collect money and split it?

The option to purchase spells out the details of the option money (which is whatever the two parties agree on in writing), and how it will be paid.

You'll find this is a wonderful resource to learn the real world details of REI.Second - to answer your question, I would start by reading anything that Joel Owens has written/replied to.

Well we don't have a health plan right now, so I guess I should get one.

As pointed out, again, a subject to means there is an existing lien and then you say the property is free and clear.You must be very young to think this lady is going to die any time because she is 70, LOL, she could out live you, she could easily live (not knowing her health issues, but in general) to 90, 95 or longer!

I went to two local banks last week and the answer is the same as Jon as stated - great income, high credit score, 2years tax return for rental income to be considered, 20-25% down payment and you'll need to show all bank details for the past 3-6 month ( business & personal)Good luck!

If so did the banks give you grief about every little property detail?

In many areas ED is used for condemnded properties, at what point is a property so unmaintained that it presents a true health or safety issue to the public and government can take it and do what it will?