I'm looking for something fairly cheap.

I know some cities or counties or states will take them in as surplus properties then auction them off for fair market value..

However, if you wanted to give this kitchen a make over thats fairly cheap I would replace the lighting to recessed lighting (50$ bucks a can, probably only needs 3).

@Brian GibbonsHey, I'm fairly new to this online community but I was just wondering if I can legally Assign a lease option agreement for 3-5% of the purchase price to a tenant buyer? 

If he brought the house to your attention, then maybe it makes sense to pass.But if it was a house that you had been watching its fair game and you need to go after it.

I have been a landlord since 1982 and I have also flipped a fair numbers of homes over the years.A couple of years ago I discovered the "paper" side of the real estate investment world.

I have been a landlord since 1982 and I have also flipped a fair numbers of homes over the years.A couple of years ago I discovered the "paper" side of the real estate investment world.

I'm pretty sure if you look up Harden or bulletproof your rental you will be able to find this thread, it is full of fairly low cost ways to make your rental better protected form rough tenants.

However I do have some questions that may be relevant no matter what country you are in so please feel free to pass along any advice :) I am currently looking at purchasing my first property and I have done a fair bit of homework, but I am looking for some experienced guidance on choosing my best option to start out.

Sorry to sound so harsh, but purporting to be an altruistic for-profit Investor is fairly close to being an oxymoron in my dictionary.In reality, it's their LENDER who will decide how much they can be helped.If you're investing, why treat underwater properties differently to any other?