For someone to have seen all the different opprotunities and obstacles in real estate and to be able to come out with your shortly and still remain successful, you should be really proud.

Souder, did you explain to the seller the risk of the due on sale clause, that this loan would remain on their credit report until you paid it off or that they credit could be damaged if you fail to make the payments?"

It even covered up an edge where the formica had chipped off and all that was remaining was the wood.The kit includes (in order of use): Cleaner, Cleaning brush, adhesive bottom color coat, flake spreader (looks like a mini lawn seed spreader), flakes, sanding block, and two part epoxy protective top coat.

From the remaining 50%, you have to pay your mortgage payment and take your cash flow.

I dont think a 5-8 year hold would hurt you in this market and if home prices continue to stay high, the rental market should remain solid.Good luck and if you ever need some eyes and ears on the ground I'd be happy to help - trying to educate myself in this whole thing too.

After removing the vermin, I repaired all entry holes on the exterior of the house so they couldn't get back in and also set traps for any that remained in the house.

Once the remaining units get filled that jumps to about 125k at current rents.

You can use a standard real estate contract and remove provisions of default until you have nothing but an option remaining. :)

While you can't "assume" the mortgage, you can purchase subject to the existing mortgage and take over payments, but the loan would remain in the sellers name and ultimately, they would be responsible for it.

While I do want to remain within the guidelines of the forum and not solicit business, I do not know how to make myself of value to a potential mentor without some solicitation.