In other words, if the property has a mortgage and the property is sold to another person without the mortgage being satisfied, the sale can be nullified since the mortgage is superior to the sale.Typically when you purchase a mortgage/dot you will check title but that is mainly to look at future title events post the recording of the mortgage.Hazard Insurance or alike (flood, wind, etc) is updated to reflect the new mortgagee or the owner of the asset.

"land being sold in the area"Just like you compare houses you compare the land.Has to be apples to apples.You can't compare a commercial piece of land or main street frontage with a residential lot in a subdivision.Those are two totally different animals.The tax assessment has nothing to do with value of the lot.

Thanks in advance :)4 Unit Property (3 units in main house + coach house)Price Paid: $280,000Money Down: $56,000Monthly Payment (Incl Ins + Tax): $1970/moCurrent Rents: $3665/moThis is the basic breakdown without me living there.

The main takeaway being that I really want it to look like a business and not a hobby.The financial accounting piece is also critical.

Call your local planning department and find out their approval process for your particular parcel to split and allow for a 2nd homesite location.The main value in any piece of land is the ability to create a homesite.

It's mainly a revenue-generating source for the cities.

I'm a member of the REIA Club, in Ct.My main reason for being a member, is to network.On a slow night, at least 100+ people, are at the meeting.I've seen over 200+ people at some of the meetings.You mentioned that you've found some properties, that you're interested in.What type of properties, are they?

My main questions include how exactly to go about securing financing when you have poor credit/ no working capital.

If you are basing a purchase price mainly on the income approach, then having access to a couple of years of P & L statements are absolutely critical.The gross rental income will include your vacancy rate.

Since then, I have purchased a generator (which has come in handy several times) and I keep an extra supply of gasoline.