I am new to this as well so its still fresh in my mind. 

We spent about 20 minutes talking and he specifically said he can deliver the house vacant if we wanted and he can show us his bank statements for the last 18 months to show that his tenants are paying on time (the tenants currently don't have a lease and have a month to month agreement).

Just make sure they know what they are talking about and can deliver what they promise.In terms of the 401k loan I honestly don't know because I have never done one.

In fact many if not most manufacturers use the same assembly lines for either or so you'll generally find little difference between the two other than one is built on a steel "Mainframe Chasis" and delivered to the site behind a "Totter"  while the other is built without the steel mainframe and delivered to the site on a low boy then craned or rolled onto a poured in place stem wall foundation and footing.

My husband said it was raising a red flag for him.... and then we noticed a 1 foot moldy water spot on the ceiling that was coming through the fresh paint. 

Hey all! My name is Steve, I just turned 32, and I'm from the central Pa region. I grew up in Milton Pa, but I am currently living in Sunbury Pa.I'm here to learn as much as I can about real estate. More specifically,...

I would not change the locks until you worked out a new lease deal with Joe (unless you feel there could be violence, which if Jane is crazy, a new lock will not stop her).If Joe is unable to handle the lease on his own, or work out a deal to settle up and start a fresh lease, I would just start the eviction process.Joe will either come to the party, or maybe just bail.Either way it sucks, but it is better than getting sucked into the Jane and Joe drama vortex.Michael P Currie

Keep in mind, this will be a freshly rehabbed property.3) General thoughts on that price and rent?

For banked customers, we accept the above and ACH methods of payments (eRentPayment.com, QuickBooks Invoices (the old IPN system)) and 'bill pay' checks that are delivered to us.

I do have to thank that silly Than Merrill radio commercial that caught my attention when I needed it most (wife was freshly preggers and our finances were in the crapper) to getting me motivated enough to show up and learn enough to go out and start "crushing it."