We haven't even covered if there is an issue in the other direction whereas, if there is property damage i.e. electrical fire becuase of the way the issue was approached, is the Tenant responsible?

I’m in the Detroit market, and I see a lot of properties for sale with existing sec 8 tenants on place.Thanks..

My plan is to rent out two of the rooms to help cover my mortgage payments.So far, the property appraisal has been completed, and I've set up home insurance.

In the days to come, we begin to do my own due diligence (call engineering company) and find out that the engineer has gotten no official word to start the design.Feb 14 2014 -In the back and forth regarding the Title 5 inspection, we notice that (after being under contract) the listing agent has manipulated the content of the listing description from "the existing Tight Tank system is working, but won't pass the inspection..." to "the existing Tight Tank system has just recently been pumped"Any help would be much appreciated.

I don’t rely on pre-set searches I’ve set up with an agent because those can run 1-2 days behind what gets listed online and you can miss out on hot deals by waiting that long.

Make sure the rental income comfortably covers your mortgage, taxes, and other expenses.

Your PM should have insurance to cover it.

40 gallon, natural gas, assuming the space it sits in doesn't have to be modified and the existing flu pipe is good:  Material $450, Labor $80, includes haul off of old heater.Same size, electric, assuming no mods to the wiring or space: Materials $350, Labor $80.Add $40 parts and labor if a shut off needs to be replaced. 

Agreed, $50k~ does not go very far as a 20% downpayment in St Augustine lately, and although you mentioned you have a higher risk tolerance, that would be a lot of debt you would be undertaking between margin, your existing rental property debts, and the new debt with the planned purchase.

For anyone who may end up reading this, as a follow up, (1) auction.com ended up not requiring the full $2500 deposit, since my purchase was less than the deposit requirement. (2) It took about 2 months to get the deed, because CHASE had a pre-foreclosure on it at the time of the auction, and so they formally foreclosed and then eventually got the deed, which they then eventually signed over to me.