Then...our other tenant calls and says there was "water everywhere" this morning in their 2nd floor bathroom.

It also matters what the map says, are you closer to the water source then him or not.

I suppose you could try to do a lease option, but same as with a sub-to, good luck finding a lease holder wanting to make payments for x years toward a down-payment on a house that will still likely be under-water.

So I was caught off guard when I seen such a small sales amount.Quite often I see this number considerably high than the asking price, I have bought properties in the 30k range and seen this number around 100k.So if anyone knows exactly what this number represents I would appreciate the info.

I'm living in upstate ny(albany) and have been offered(by family) to match what I put down to get to 20 percent down(200,000 range).

On average, most of our loans and loans I see go out from other lenders are in the 12-14% and 2-4 point range depending on the term.

Also, seems better at comps then Zillow, although comps in Vegas in the last year or so have been wacky and have a wide range, to be sure...

Cash flow, appreciation potential, price range, etc?

The lowest was $25k (needed a new floor), and on the high end there were a couple in the 6 figure range.

Enjoy this short lesson and don't forget to turn water off at vacant houses...