Some rentals are much more passive, because the tenants were properly screened, and they won't give you any headaches.

I don't have all the answers you need, but I would say to make sure the title work is properly done, either BY a title co. or following direct steps laid out by a reputable title co.... even some lawyers screw this up.I've had to shop a property closing around to 10 different title companies before I was lucky enough to find one to close it for me...all this because the family members used a lawyer to transfer title between each other. 

Then add paint inside and out, new kitchen, updated bathrooms, new carpets in bedrooms, new light fixtures, updated sockets and you´re probably looking at a budget of $8000-$9000 in cosmetic updates, $6000-$7000 for a properly permitted roof and $3000 for a new HVAC system.

Hi,I'm looking for advice on a proper procedure to cancel showing if I caught a potential applicant lying.

I have a piece of bare land in Washington that we had originally thought we would build a personal residence on. But things change and now we are selling without building. We have an offer from a  buyer wanting us to ...

With REOs, the power and water usually aren't turned on until after your offer is accepted, so the inspector can't really tell you much.Generally, you would get a contractor to do a walk through so you can give a proper offer.

It will be solved and brought current when they list the house and sell properly through a title co or closing attorney.Possibly do them a solid (since you are family, pretty please?)

It means they are not operating the property correctly, not reporting their expenses properly, they are owner operators and do everything themselves on the cheap, or a combination of these.Put together a pro forma based on how you will run the property so that you can get more comfortable with your numbers.  

I'll do everything legally (if this is legal) with contract and have the proper paper trails.If YES, would it make sense to rent at my mortgage rate or standard rate?

Investors should always complete their own research, due diligence, and consult with the proper professional services to their satisfaction, and act accordingly in good faith.