Any blemishes might eliminate being able to rent in decent areas.

If you have questions about the process, I'm probably the best one to ask.The Land Bank was created to eliminate blight in the Kent County area and specifically Grand Rapids.  

The situation with this Seller could be allow you to eliminate the existing owner's monthly payments, create a home ownership opportunity for someone that didn't exist before and help you make some money all at the same time. 

Buying under an LLC will eliminate your ability to get an owner occupied loan, and also eliminate almost all 30 year loans, they will have a 5 year or so balloon.

Look for a property where you get:Equity when you buy itStrong cashflow (I shoot for $400+ per month)15% cash on cash returnThis will make it profitable and eliminate most of your risk.

So a ground rent may not be worth redeeming other than eliminating the hassle of paying every six months.

On flip properties the key is to get the purchase price correct and to eliminate your surprises. 

Unfortunately, there are so many rules and regulations around disclosure that it's not worth it to them to talk to you even if they could eliminate their foreclosure timeline by entertaining a short sale or settlement.

Redfin.com is the next best thing to having MLS access...also HomeSnap.com, they're both connected to ARMLS and they both have private notes features where you can track and make notes on each property you're watching (although Redfin is eliminating that feature, write them and ask them not too!!)!

I personally could not smell it but the tenant says it's there and I would like to eliminate the order.