., properties typically require a cash buyer, and FHA guidelines demand that the property be in a certain condition to be approved for the loan, and as you know oftentimes foreclosed property isn't in the best shape.  

FIRST QUESTION- Closing Prorations: Not sure which one to chose (default is the first one)Line 120 - Real Estate taxes shall be prorated at closing based on  {The net general real estate taxes for the preceding year, or the current year if available} {Current assessment times current mill rate} {Sale price multiplied by the municipality area-wide percent of fair market value used by the assessor in the prior year, or current year if known, multiplied by current mill rate}I checked the default option which is the first one, but want to make sure it is the right choiceSECOND QUESTION- Property Condition Representations:  Very confused on this sectionLine 150-168 - Seller represents to Buyer that, as of the date Seller grants this Option, Seller has no notice or knowledge of any Defects other than those identified in Seller's disclosure report dated _______ and if applicable, Real Estate Condition Report dated ______, and, if applicable Vacant Land Disclosure Report dated _____, which was received by Buyer prior to Buyer signing this Option and which is/are made a part of this Option by reference (Complete dates or strike as applicable) and _____________________ (Insert conditions not already included in the disclosure or condition report(s)) CAUTION: If the Property includes 1-4 dwelling units, a Real Estate Condition Report containing the disclosures provided in Wis.

When all is NOT good and you lose your job, lose a spouse or co borrower, have a catastrophic medical condition with massive bills, being underwater still doesn't matter.

Leasing agents not attempting to retain existing commercial tenants,owners/agents milking every cent possible from a lease and actually driving business outCommercial vacancies is a sure sign of declining economy, lost jobs and subsequent home foreclosures . . . its a good measure of the community economic health.

Monthly he pays $260 for car payment, $50 for health insurance, $125 for phone, $75 for student loans. 

Purchase 50-60% depending on condition of house. 104k  - 120k Repair money 10% - 20% of ARV Total 60-70% of ARV  Invested Your best deal would be Purchase 50% Repair 10% Your worst deal is 60/10 or 50/20Never do 60/20 If you have 40k in repairs (20%) you need to buy at 50% 104K This would have left you all in at 144k.

Looking at the street views of the areas, they look "OK" but the roads are in bad condition, which is one of my go-to's in determining the quality of a neighborhood. 

There is usually an IC ( independent contractor ) agreement with you and the brokerage spelling out under what conditions you will be able to place your license there.Every state is different on the exact process and I know nothing about New Jersey's process.It sounds like the principal broker says once you join them after getting a license then they will feed you leads.

This was on the condition that they left peaceably and my unit in good condition

Both are in great condition with a number of upgrades so they get some of the best renters with the highest rents for the area.