I said I would only be interested if it is owner financed and he agreed.Asking $55,000 which is close to market value. records show he paid $49,750 in 2012condo fees: $136/ mo ( includes exterior maintenance and cold water)taxes: $120.33/ mo ( $1443.82 annual)Insurance: $12.08/ mo ( $145 annual)He is asking 10% down and 10% interest rateCondo is currently rented for $650 Electric heat ( paid by tenant)2 parking spacesWhat do you guys think about these numbers?

I'm new at this, but my assumption is that the electrical system has to be brought up to code in order to sell the house.

-Fix Roof-Renovate and re-arrange walls-Redo Electric panel and seal from moisture buildup-Remove tenant (found out she was section 8 but I got lucky and they already found a place!

Community has no HOA and taxes are low , it's also on a well and septic so you only pay for electricity which is low.

I am taking my time to check everything out plumbing electrical tenants and there leases past bills from owners regarding.

All new electrical and plumbing?  

The problem has been diminished and I'm real happy with the results. my electric bill went up , but it's okay.

Lot's of mold, foundation cracks, bad plumbing electrical, and money going out the door everyday until you sell it and hopefully make a profit.You need the attorney to outline risks and what goes wrong.

These particular houses are over a hundred years old, in an area that is in revitalization, They get everything from repaired foundation, all new electrical, HVAC, plumbing, insulation, roof.

In this agreement we identify the utilities and services which are in-scope (i.e. electric, water/sewer, gas, snow removal, lawn care, etc) and the amount which the tenants will pre-pay into the utilities fund each month.The programme works as follows:1) Tenant pays the agreed-upon amount on or before the first of the month (paid in advance);2) Utilities remain in our corporate name and we ensure the utility bills are paid on-time.