Romney will appoint a new finance guy and it will remain close to free money for the banks as it is now, the fed can't get any lower.As to confidence as mentioned above, that is an opinion, I'd ask why the DOW is busting a gut through the roof if investors were really hiding....that's not correct, IMO.Don't let political claims cloud your judgment, it will take time to get out of the mess the pubs put us in.

:Also having a general contractor who does the entire thing for a fixed price will save you lots of time and headaches; even though it maybe a bit more expensive but in the long run I think it is well worth it.Keep in mind that rarely does a fixed price remain that price throughout the entire renovation...As the renovation gets underway, the GC may find surprises that were previously unknown and will want to charge for those surprises.

In your example you're buying down by $25K so you would pay tax on that amount but would shelter the remaining $125K of gain.  

As others have mentioned you will need an attorney unless you can work with the original seller and have him come up with a plan quick to pay off the remaining $52,000.

Reason being if one roommate moves out you want the remaining roommate(s) to be able to cover the rent. 

With these updates I am confident I can get the ARV to around 400k.Now to the seller financing structure:purchase price- 300ktaxes- $900insurance $100Over 5 years (60 months) make monthly payments of $1,000 (60k) (Assuming 0% interest and 0 down payment being the wonderful grandson I am)I attempted to use the rental property calculator to analyze but this deal is a little out of the ordinary.After those 5 years do a cash out refi to pay back the remaining 240K and assuming it will be valued in the 400k range I could pull out some more equity to buy more properties.I plan to do the renovations within the first month and getting renters in there asap.

You're just enabling her by allowing her to remain which will, of course, ultimately result in her death.

Plano and Richardson remain hot.

Once they tear down the building they slap a lien for the inflated cost of the demo on the remaining lot which will be recorded and would which would come up on title.If case is closed you don't have to deal with it but if it is open you can take possession and take over the case in which the judge gives a new buyer time to make it right but they order an interior inspection which leads to having to get drawings and permits if the work needed requires it.

If I was to start over, I would have looked at a duplex or 4 family in a good area (south city, ucity, maplewood, etc) and lived in one of the units and rented the remaining.