Also, is the knob & tube upstairs something of serious concern?

I always recommend the Carleton Sheets course as an excellent beginner's course.After you understand the basics, then I would write a short business plan detailing how you will get from where you are now to where you want to be (financially).

One of the benefits of the Starting Out forum is that it truly is for beginner type questions.You will notice that the same questions are asked over and over.

I'm not concerned so much about keeping the $1000.

But, yes, the concern is that you have to evict the tenant buyer can claim they have an equitable interest in the property, forcing a foreclosure rather than eviction.I've also heard of stating in the option agreement, where rent credits would be covered, that any late payment results in all rent credits being forfeited.

What does it mean in the IRS auction if they state "Only the right, title and interest of the Taxpayer in and to the property will be offered for sale." Is that saying that they are only selling the tax debt, but not...

At that point, any concerns with the property will apply.

I understand the concerns, and know that It is due to all of the "cash back" programs and appraisal fraud of the past.

And as far as I'm concerned, there's not much room for me to get a modest bird dog fee or even offer my rehabber buddies a reasonable deal.

Rural areas are deal-killers, as far as I'm concerned.