Michael if you're just looking to pay $1 then I would get a quit claim deed from seller (still do a title search) and negotiate myself.

I try to attend all of the meetings, they have quite a few.

Reason being that I'll be saving quite a bit by not having a mortgage, HOA, utilities, etc. and just renting out a room from my friend until I purchase a new primary.

With my wife's blessing, I quit my relatively good paying job and bought a facility that was losing $2,000 per month.

I work in Property Management for HOA's, and a situation arose a few months ago that I found quite interesting.An elderly owner of a unit within one of the HOA's we manage, was taken away by authorities because he was not deemed fit to take care of himself (severe dementia).

I'm quite sure you are already aware of this but to get questions answered from real investors is such a great feeling.

I expect this ROI to be quite small given it is a single family home.Sell it and use that money to buy more deals like it or use it to move up and start flipping multi unit buildings.

The cost overruns could eat up your dream and cost you many nights of sleep.If you need to ask the question, at the very least you may want to consider bringing in an experienced partner.

Don't quit.

Thanks @Wayne Brooks I wasn't quite sure if the numbers were right.So when people add the principal in to the equation that helps determine what their total return is.