Did you, as part of your investigation, notice an open/unlocked door or window to a home that appeared to be abadoned and verify the occupancy status?

You want to be sure the seller is truly committed, since this mortgage remains on their credit report and is their responsibility until you pay it off.If you commit to sell the property at $175K, the appreciation belongs to your buyer's, not you.Have you personally verified the $175K price?

Verify everything he/she tells you and use an attorney (even though it may not be customary to use one where you are I still would).

Again, my goal here is to see if I can develop a "top down" analysis whereby I can establish some reasonably accurate and verifiable method to derive a target market.

Verify its a clean title, if not re-negotiate for liens / removal of liens6.

Of course, I am not a lawyer.If I was renting a higher end unit, I would probably want to verify SS#.

This needs to be negotiated *BEFORE* the agent brings the buyer to the property.In the case of a listing on the MLS, it is already disclosed in the listing; in the case of an FSBO, the agent should be smart enough to verify the commission before showing the property.While you can always offer less than 3%, this is pretty standard and you may lose potential buyers if you offer less.

At 100% occupied you have rent of 874.33 per unit.Take 62,952 verified by schedule E tax returns and by checking bank deposits then half you get 31,296.At a 10 cap going in that is 310,296 sales price before CAPEX. needed.There are too many variables not posted by you to give an exact number.

Scott, I remember speaking to a few people and they all told me the EXACT same things you say but there words were more like "Trust but Verify" lol....I didnt quit understsnd myself until I got in this business and the GC's i worked with smeltt new blood and completely tries to take advantage of me. luckly, I had some knowledgeable people around me!

I have used PayPal and as long accounts are verified, the transaction goes smoothly.