If that % discount takes into account the "all-in" cost (all-in meaning acquisition cost plus cost to repairs to bring to full market retail value) then yes, that is an incredible deal and likely not achieved these days.

Therefore, as the owner of the property, you're wide open, i.e., if anything goes wrong at the rental, there's a 99% chance they're going after you.I believe it's far better to have the LLC on title as the owner and then manage the property yourself, if you must, but I would still check with an attorney.

This stuff varies widely from state to state.

Incredible insight.

UPDATE:so the tenant moved out as he said he would, on the 31st of August. he left everything a mess. i was dumbfounded, i let him know how displeased i was with the condition he left it. his reply was "well this is about normal for me being here as long as i was"..he did not trash the home it was just very very very dirty...carpet survived incredibly well for what the rest of the home looked like. also he took it upon himself to have verizon fios installed, not normally a problem except he had them mount the fios box in my laundry room !

They are going to turn the housing market around by combining these two great programs through the brand new, tax payer funded, AIG endorsed: Bank owned Mcmansion for your double-wide program.

Please realize its a big country and prices vary widely from location to location.

If it really does only need 1k in repairs that is an incredible deal at 5k a door.Just have to make sure utilities,high taxes assessments,and maintenance don't eat you up.Do you have a pic of the property.No address just wanted to see what it looked like for that price.Here that would be in a war zone in Atlanta and I wouldn't go near it.

He has yet to accomplish anything of significance yet he has created an incredible buzz.

I feel this is incredibly stupid if true that you basically paying $25 for visual voicemail which I don't even care about...