It does give you a lower barrier to entry than many other investment properties.While it is tough to get any cash flow in this general area with that method to start.

If they weren't recently updated, you can factor that into your repair estimates.No comps usually means slow to no activity in the area and that's a concern.

If they can't tell you then maybe for this area you need to include a line at the end of your letter stating that if the recipient would like to stop receiving your letters to please call, email or write to you (whichever contact methods you provide).

Elizabeth Colegrove utilities are separate.My main concern is the added noise a second person would make.

Attorneys may advertise, but they are under more ethical and even legal requirements concerning doing something to acquire clients that are already represented.

Anything else, questions or concerns let me know.Being you will probably be on both sides on this deal, if you decide to go ahead with it.For example:As a buyer you do not have to worry about coming up with the money for property taxes, private motgage insurance, or homeowners insurance and the seller will usually continue to pay for and complete any maintenance and repairs on the homehttp://www.biggerpockets.com/renewsblog/2013/01/06/rent-to-own-homes/

My concern would be he is too far in the red for even that!

Basically, does the method of rent payment need to be in writing and signed?

The property is cheap enough but I am concerned with buried stuff if it turns out to be buried drums of waste oil could get expensive to clean up.

Not your concern as far as the legal stuff, although I'd want to know what the issue is in case it could have some liability for you in the future (drugs, illegal home business).