Not sure what your status is, Brandon, but from your statement that you're assuming it takes "years" to save up $10,000 and that you're living with family, I'm guessing maybe you're either not working or not planning to work that much, except investing in property?

Go back to the planning,zoning dept in your city/ or maybe its county here and they can answer who owns the street and what the status is of the property.

Also what would be status of parking is it extra included and if so how much will they charge.

One other HUGE thing about my wife going full time, is now we can claim the real estate professional status for tax purposes next year.

At 66 lots of things happen some people want to move to a warmer climate and dont want lose strings attached or your health is another factor. the other things involve your estate and do you want your kids to have real estate to contend with or is this strictly your thing?

And NO, wholesaling HUD homes is not illegal as long as its in investor status!

When we there my wife couldn't believe the prices of homes.Mortgages were 9%.I mean Adelaide is a small city in a state of a million people.Of course she was convinced it would be the proverbial bubble as we experienced here.So I kept track of pricing there & since we were there they have reported capital appreciation @ 15-20% in the city & 25-30% on the beaches.Minimum wage is $22/hr, free health care & the Sat morning job section was over 15 pages thick.

Does anybody know of current status of florida versailles house ?

My goal with this cash flow for the next 10 years or so was simply to build equity and to help me pay for my dream home with my family that I hope to purchase next year and in case of job loss, health issues, etc I'd like a cushion to count on and I'm willing to sacrifice a little up front to get it.

The right contractor makes all the difference.If the property needs corrected health and safety items such as replaced gutters or repaired dry wrought it’s because a trained construction expert or appraiser knows it’s necessary to protect the buyer’s and lender’s interest.It’s no more difficult for the borrower to qualify for a 203k loan either, it’s an FHA loan.Any Realtor who says you can’t use a 203k to buy a short sale is wrong.Like most Realtors, they don’t understand the loan so they stay away from it and tell their clients the same.This is a shame since there are 203k classes out there for Realtors to learn how it works, I teach one.