I don't know the repair situation yet but I believe it would be minimal -- definitely under $10k.

The possible red flags are a) why wasn't he able to sell it for 199k when most sales are in the low to mid 200s in the area; b) why doesn't he just list it again at a lower price; c) what is he not telling me about his situation given that he's behind on his 2nd, which is a small amount?

Some things I think about:- Likelihood of Being Able to Flip: What is the neighborhood like, are things selling, are they selling close to asking price, what is DOM for your area, what is the current financial situation, etc.- Will It Be a Good Rental?

Let me know I have scripts for any situation.

Does anyone who has done an owner financed or privately financed deal, have experience with this situation?

HomeVestors has since modified their advertising to indicate the "Ugly Situation" scenario as we began to hear people who call us say, "but my house is not ugly".

I would get as much information about that situation as possible, post the info on this thread, and then have experts guide you through whether it's a good deal or not.

One of the most important things to do regarding your situation is look to build your link campaign.

Mississippi coastal area right now have very difficult situation for real estate investment.

Very few people in specific situations can actually take advantage of the go zone benefits, and most do not have enough passive income to use the passive losses.