Sounds to me like the neighbor has a "dream" of buying the house but isn't in a position to do it now. 

., sounds glamorous, right?  

When was it last replaced if so?

Account Closed - wow, depreciating the whole amount sounds too good to be true.  

Sit down and figure out what your goals are, that may help you decide.Do you want a steady cash flow to replace your income?

Tim Lol that story Sounds Familiar :) Hello an welcome to BP I would recommend Joining some Meetups an your Local REIA Club in Indianapolis as my Friend Mr.Alain Stated there is a lot of great People an Opportunities on here but you will need a Mentor to guide an cut your Learning Curve Good Luck.

Long story short, make sure you are the one that has the answer to "OK, so you like it, how does XYZ sound".

It sounds like you have a good chunk of money, but not enough to buy a ton of properties.  

It sounds odd, because it is.

It is easy to tear stuff up, and you will save a pretty penny if you do so.Go to the home depot, home emporium, lowes, lumber liquidators, everywhere and get your prices on paper.Labor is expensive, but if it sounds like a ridiculous number, it probably is.