Fortunately he still allowed work to continue up to then.

It seems risky for him to continue on with transferring ownership on Jan 1st especially if the new owner suddenly has buyer's remorse... couldn't she just easily back out, take her deposit back and walk away?

As you continue educating yourself, you have to determine (1) whether you want to be active or passive investor, (2) depending on #1, pick a strategy within such niche.

I agree about the comments regarding Crook County so we do factor in a lower purchase price to compensate for the added timelines and costs.I'm coming to believe and will continue to test out the following: If you have a highly competent attorney, you should be able to reduce timelines and generally mitigate the risks of investing in judicial foreclosure states.

Hope to continue to learn and master the brrrr method for purchasing multi-family properties!

I don't know if you're doing a fixed contract price or if you are doing a cost plus, But either way you gotta have a higher intimidation factor with these contractors and you cannot let them change the game otherwise you will continue to get run over.

The Solo 401(k) also has the advantage of being more favorable for real estate investments using debt-financing such as a mortgage - as the 401(k) is exempted from a small tax called UDFI that an IRA would pay on the percentage of income derived from the borrowed money.So, as you continue your research and get feedback here on BP, think about what type of program will best suit you needs and be sure to ask questions along that line.

I want to continue studying and learning as much as I can about this business :) Thank you in advance!

Continue learning.

I am continuously doing research and learning all I can.