He wants to pay our entire mortgage on that house with the following provisions: He takes full responsibility for any unkeep or repairs allieviating the landlord duties for us, then when he is finally ready to buy he wants to pay the amount that is left on the loan so he actually acquires the equity.

It is listed at 180k and would need 60k in repairs.

Agreed...falling out of escrow happens for things like not being able to get a loan, home inspection revealing significant necessary repairs, etc.

The property, once repairs are complete, should sell for 180-220.

property needs some repairs, it will take about $20K to bring it to a normal condition.

However, I have read some 'experts' that say unless you practice with your semi on a regular basis you are better off with the simplicity of a wheel gun.AdrianG: after you spend some time reading the many useful posts all over this site, you will see that some of us rent to low-income tenants where we are actively involved in cash rent collections, delivering eviction notices, chasing drug dealers and other undesirables off property, doing repairs at odd hours, etc.

So it should be relatively safe to say that a property will sell for approximately 70% of it's after-repaired market value, or more - right (unless the lender buys it back, of course)?

If its truly worth $260, meaning, there have been sales of comparable properties at $260K in the last 90 days, then it would be worth $182K, less any repairs, to an investor

It was one without any repairs.

TO me it seems that major repair/replacement is the most important: 1) water heater/plumbing2) HVAC3)Roofing4)Electrical5)foundation(I'm in Texas, terrible foundation problems)Does that sound about right to you?