I made the offer on 11/24, got verbal acceptance on 12/8, written on 12/15 and was set to close on 12/23......but the title company had a small issue with a permit taken out for a circular driveway that should be cleared up by Monday.

Now if you can pay CASH and get it free and clear then I would say go for it.

Put together a broker's package that has very clearly described parameters for what you are looking for.

Purchased the first buy/hold property in August that needed work - it became clear that because of the ARV that I should flip it instead of hold and use the profit to buy more property.

Now that I am 10 yrs more experianced with REI and investing, I can say without a doubt, diverisification and your personal network are the key to not becoming a tired landlord or being put into a trial by fire to learn the ropes.Steer clear of people who want to invest your money, especially when you are just starting.

Thehouse is owned free and clear but has two liens on it.

With the market the way it is, it should be easy for her to find a home and it might need some cosmetic repairs, but if it is truly a deal and gets her payments down and she like the area, why not go for it.How about finding a home that someone owns outright FREE AND CLEAR and then letting them owner finance the deal for you.There are many options, but I am not a big fan on DEPENDENCY.

Since its clear there are problems, use the inspection to renegotiate the price.

If the property is paid for in 30 years, I own it free and clear that's income for my "golden years" correct?

Some was.Here is an attempt to clear the record.To be in total code compliance, you must either:- Install 2 prong outlets- Install a GFCI receptacle (3 prong) marked with the sticker that comes with it "No ground present"I must confess, without doing further research on the GFIC breaker suggestion, above, I am not sure if it is code compliant or not.