Basically, I'll say, "Remediated water intrusion issues and mold in parts of basement..." or something similar.- I've never had a buyer even ask about past mold problems in one of my houses (the fact that everything is new probably takes away most of their concerns), but if a buyer did have an issue with a past mold problem, I'd have no problem paying for a mold test during their due diligence period.

If there is a listing agent in the area, you can call and ask them what other houses like their listing have sold for in the area on a similar property and see what they send you on the house they are selling.

asimbeck, I am in a similar scenario as you, trying to learn the investment business.

I can only say I wish I'd listened to his advice when I got similar from my Pop about 25 years ago...

In terms of a pre-foreclosure, if I couldn't assign the option in time, the owner is screwed, i.e. they're depending on me to get the house "sold" (seems pretty sketchy)2) Similarly, if I try to be nice and offer to let the owner try and sell it themselves, but I can exercise the option if I get it assigned, what if I sell it for say $5k, and then my assignee cannot exercise because owner in foreclosure has sold already, or enlisted agent help, etc.???

Similar process for credit cards.

I am thinking about starting very soon, but am still trying to find out information in a similar way as you, reading, browsing the forums, etc.

I asked a similar question last week.

What are comps on similar properties in the same neighborhood?

I've also found that it's best to re-post my Craig's list ad every few days or so -- I have a traffic counter on my webpage that lets me see when traffic is starting to die down and it's time to move my ad to the top of the list