The seller is not super motivated to get rid of it, but it’s been for sale for a while.

Our business partner also believes if we don’t sell the house in the two week time period before the asbestos abatement is completed, we have lost nothing and we can move forward with the sale of the home with the asbestos problem resolved.Whaddya think ?

Sell current townhome and use sales proceeds as downpayment for new home.I put together some numbers and if I were to purchase 450k property, there aren't much difference in terms of net income.

Here's my plan:I want to be financially independent by selling my personal residence and investing the proceeds to pay my living expenses.If I net 180k from the sale and use 10k toward the downpayment on my next residence, I'll have 170k left to invest.

Congrats Jodi,Sounds like you got a deal and times it right Hillary ,I’ve been listening ok’ing at flood deals for a while now , from the deals that came my way the wholesalers are looking for 60-50% of the ARV , that doesn’t leave you much room for error , market correction or stigma of a flood home even in a good area .Take off 10% for commissions, legal  & closing on sale , you are looking at best a 12/20% return on investment .Now imagine if the mold situation comes or contractor goes over budget , you may be stuck holding a wet bag If your plan is a rental than at least you have a plan B in place For the best upside of 20% I’d stay clear Of course if you can purchase at 35/45 From ARV that may be worth considering IMO the Flooded homes are going to be in the market for a while - based on the fact many owners are just hanging on and not paying mortgages .

Often, because of due on sale, the bank isn't told of the deal.

So I have the option to follow and see pending sales.

@Marvin Barrera you can typically go to a local real estate agency's website and they'll have a search engine you can use to look at "for sale" listings on the mls.

There is a tax sale coming up soon and if the property taxes aren't paid then they will be sold.

Something I've found is that Denver is a much harder place to get started from as investing standpoint so I've been curious if people have had success investing outside of Colorado and in the Milwaukee area (where I moved from) or the Indianapolis area (where I grew up and the rest of my family lives).I'm 27 and currently work in Sales as a manufacturer's rep on the plumbing side for new construction commercial projects throughout all of Colorado and Southern Wyoming.