The deal was to good to pass up and though its invariably a real estate play, there is obviously a business aspect to it.

Just the fact that the seller has sought the counsel of an attorney tells you that he has reservations about some aspect of the transaction.It appears you believe that you would have a deal BUT for the attorney's interference.

While I certainly enjoy certain aspects of RE, the thing that I have a passion for is building the business -- creating value out of nothing.

Think of other services as offering pricing sort of like a fast food "value meal", but NTN only has a menu where you pay for fries and drink as separate items.Not seeing the actual reports, as you mentoned, is not the way I've done things, so I can't comment on that aspect.

I was planning on buying it Cash, then I realized I was able to get Financing that I recently found, and totally forgot HUD can be financed...Timing was just really off on all aspects, so I guess I did what I had to do.

I don't see how every other aspect is perfect, Also if i do get rejected what other options do i have house is 45k i am putting down 12k loan will be for around 33k.

I don't want to just manage I want to be involved in all aspects buying, rehabbing renting/selling, and managing.

I'm not really worried about the risk assessment unless it relates to the taxation aspects.

There were two aspects here, one is that due to a divorce the seller was very motivated to almost walk away, the other was knowing several players.The seller had the opinion that he would have had a realestate commission and it would have taken longer, so it's a win-win-win.

Cash flow is one aspect of rental benefit.