What was the last rent or mortgage, was it near the same amount and paid on time, that should tell you what to expect.Looks to me like he might be fine, I wouldn't get that tied up in what he claims as an expense in his self employed ventures....:)

Christopher Wilbur,Yes, you can roll them over to a self directed IRA.

Having NCND's and other provisions in the contracts will show the INTENT of the buyer.If they plan any funny business you will know it from their objections to signing your protection provisions.It's better to know how they will act upfront and not do business with them then to learn this on a deal and lose out.

self management obviously would reduce your costs, but if you are a distance away, might also reduce your revenue. 2.

Could be your assessments of value are off, but your example with a higher price isn't close.

For habitual offenders, we assess a late fee on the 2nd and service a Notice to Vacate on the 4th {at our discretion}.

A lawful object;4.

I would agree with J's assessment and pay close attention to the items he showed that you missed - demo, finish carpentry, rough plumbing/ electrical, etc.The other thing to make sure of is the major items - HVAC, roof, electrical panel, foundation, etc. loos like you are wanting to do a new HVAC system so J was correct that your entire combo price for heat and cool would be around $4k which you estimated higher.Time to get that offer in!

I have been educating my self through these forums and soon i hope to have enough knowledge and confidence to get out there and make some money.

If I were doing it, as I have, I have had both sitting beofre me and we hammer out a deal, either party may object to any term, but some are set by law, such as any balloon payment being required, but if they are a good broker/originator they should be able to offer payments being purchased or other guarantees that may off set such limitations that still meet compliance.