Obviously getting some misinformation here.Property is in Lake County Il north west of Chicago2/1 - 880 Sq Ft without garage - I have not seen the property other than the photo on google maps.Seller purchased property for $124K back in 2006Seller believes the property is work $98kSeller believes she owes $72kCurrent mortgage payments set to $588Comps are proving somewhat difficult but in my newbie opinion (take it for what its worth) property is worth $65k  (again, I have NOT seen the property)Also, rents in this area look like 1200-1500 for 3/1 house with a garage.  

Demand a copy of the contract to prove they have an equitable interest.Unlicensed brokers generally have no insurance.

Study and learn the appropriate state landlord tenant regulations if you want to do it right.Based on the circumstances you should be seriously looking to get rid of this tenant.

I've been living in Lees Summit, MO for a little over a year now and have just recently been studying REI.

I'm new to all this so any feedback will prove helpful.Thanks in advance,Mike

I have been studying and researching real estate investing for 4 years now and I am tired of having analysis paralysis and am ready to actually do a deal.

My name is Tresden Berry, I am currently in college studying PR and Marketing.

When you place the offer, I would also want to have a conversation with the seller to let them know why I offered at a certain price and a proof of funds to prove I am serious.

Now, with my move to Kansas imminent, I've decided to study for my real estate license and take my gains from selling my primary home (took me 2 days to get a fullprice+ offer without a realtor) and invest into a multifamily housing unit.

I think low and no money down deals prove to be very difficult to secure if you set out with that specific goal in mind.