I know real estate is all about location but the house has to have some value...i am just trying to determine what that value is and I am having trouble determining it.

I am very excited because I am as of right now creating my first Income Producing Property.

Anything lower than that is not worth the trouble.

If you go seriously in the Eco world, houses can produce their own energy.  

The bacteria produces a gas that smells like S, & it can certainly damage the resin bed in an ion exchange unit or produce a black slime that builds up inside the unit.

Guaranteed quick sale regardless of what the banks do.With that being said, we will be in trouble when these hedge funds eventually unload all of the properties they've been picking up.

To be honest, it never occured to me to check on utilities when a tenant moves out.Check that your locality is allowed to add liens to your property, if you had not been in possession of it when those charges occured.In Georgia utilities are not allowed to do it, but yhe water company does it routinely and will lie straight into your face until you produce the law.

Using the wrong words can get you in trouble.

If they are, then this became a bad investment.I'd get a deal on a rental, save some money, focus on the getting your financial house in order, continue to learn as much as you can about investing, and look for a better income producing property you can finance.Getting your finances, including your credit in good shape, is really the best *first* thing to do while you read/learn.

Open filings are a lot of trouble because ALL of the person's assets, including a house are under control of the Bankruptcy court until the BK is either dismissed or closed.