He has 2 surviving kin, one of which is institutionalized, and I'm fairly certain his (middle aged) daughter will want to sell.What makes this a possibly great opportunity is the fact that he was the first owner of the home, built in the late 50s early 60s, and owns the property free and clear!

Then I take a tour, then I ask if he/she will consider owner financing or a lease option or (insert form of financing here)? 

Louis area who could do things like closings, and who would be comfortable working with creative financing options like owner financing, lease options, subject to, and sandwichs or wraps.

I was wondering if anyone had any recommendations for knowledgeable real estate attorneys in the southern Indiana area (mostly Evansville, and/or possibly Indy) who could do things like closings, and who would be comfortable working with creative financing options like owner financing, lease options, subject to, and sandwichs or wraps.

Once it is empty he should list it as a owner occupy SFH and hope for the bestIt's a lost cause so best to walk away and buy when it goes into bankruptcy.

If a property of interest has a realtor sign in the front, do I contact the owner with a letter of intent or the Realtor with a letter of intent?

Learn to negotiate owner financing deals, and you can buy what you want with no money.  

If you are buying it as an owner occupied you can do an FHA 203(k) which will allow you to buy it and then have the bank loan against the future state of the house.  

This will allow you to hold on to your savings for making your first non-owner occupied purchase. 

I am looking at a mobile home park in CT with the following details:- 18 spaces fully rented for $455 / month (received as an HOA - owner does not own the mobile homes but rents the spaces and includes utilities as part of the $455 fee)- Separate unit on the property:- 3 offices rent for $400 each / month (currently rented)- 1 apt bedroom for $800 / month (currently rented)- A storgage shed that gets $1400 a yearTotal Annual Income = $122,400Total Annual Expenses = $92,701They are asking $1.2M for this property, and I am new to this type of investment.