Ok, for those who may have been under a rock today and didn't hear about the amazing emergency landing into the Hudson river, everyone survived.

Even if its in pristine shape, $39.9K is 80% of ARV.

If I could get a property on a Lease Option then in turn get someone to purchase it from me on a Land Contract with baloon then.... 1.

I have it on the MLS (I'm a Realtor, too), the local paper and Craigslist for $74,900 on a land contract and I've gotten over 25 calls in four days.

Hey Alex,If you really want to increase your profits then I'm about to tell you an advanced tactic that you need to add to your mix.First check to see if your state is land contract friendly.

It was verbally agreed upon that my intended move-in date of mid-February (about a month from now) is fine with the land-lord.

If its in bad shape, and you do some fixup to it, you can use that to justify the higher price.

The puritans came over because they didn't have representation in the old world, they took this land from people who were already living here sovereignly.Then they build this nation on the backs of slaves; african americans are the only one's who were forced to come here *this is a fact* no slaves decided they wanted to work for free.the prosperity provided by all this free labor along with all the immigration brought over great ideas to this country.

Subject to, land contracts, or lease purchase may be options.

However IMO non fha almost always beats fha when property is not in great shape, and is more likely to be accepted by the SELLER.