Advantage of HML is another set of experienced eyes looking at the deal before funding it and the HML controling the draws for the contractors which both add safety for you.

I wasn't really interested in buying this house, but my brother and sister couldn't afford any type of utilities or repairs, so it was our safety from footing all bills until the house sold.

We got a 5/1 ARM with 25 year amm for 5.25% interest.

Ultimately you will want to find an experienced attorney who can set up a good infrastructure for you that can scale without causing you a headache and costing you an arm and a leg.

Your housing lobbying arms should absolutely lobby to have that overturned.

Perhaps address any issues that could cause the house to deteriorate as well as any health and safety issues. 

This is the age-old real estate question...appreciation/safety vs. cash-flow and potentially a higher risk. 

Hi Tyler,Here is my list of how to be on the list of bidders as Team Member:Personal Honesty and foreman honesty (including putting up the materials spec-ed and not a cheaper substitution, and don't lie about times and then not show up on time).Licensed and insured.Workers comp (must have).length of time in business.BBB rating.Not a history of a lot of lawsuits for non frivolous things.A handful of recent "good" referrals from other investors for the particular roof type.Proper safety equipment use by workers, tie offs etc...

I don't see where the profit is in this without a short sale as there's really no equity at all, and yes a short sale will almost always require an arms length addendum preventing family transfers.

@Doug Phillips cash is the most secure method of payment, minus safety concerns so be smart about where you accept and bring directly to bank.