a 135 year old home needs a steward, someone who takes care of the home - at the time as a fairly new investor I misjudged the situation - the "location, location, location rule" does not alway go up!

Particular situation here! 

I have seller with the following situation:$240,000 single family house$165,000 balance due on mortgage ($159k balance + $6k in past due pmts)$950/month (PITI) is the current mortgage payment @ 3.875%$1,400/month Market RentIf the seller listed the property, they would walk away with roughly $60k after commissions.

a 135 year old home needs a steward, someone who takes care of the home - at the time as a fairly new investor I misjudged the situation - the "location, location, location rule" does not alway go up!

I recommend looking for an experienced broker here who can help shop you around multiple lending platforms to get rates and quotes from a bunch of different lenders.

So - how would you approach this situation? 

The inspector pointed out multiple items but I am stuck to take a decision on two things specifically:(1) The side entrance is missing flashing over the awning.

Hello all, As a newbie in real estate, I wanted to get some of your opinion on the situation I'm in.

@Roger Matthews I do investor deals all the time here in Texas and have never heard of your situation.

I have had multiple clients do really well with that loan!