That's a pretty simple rule, common sense can usually guide you. :)

Deed transfers, same day, same property, A-B-C scenario.

I would run the analysis conservative and if you can make it work there your good to go as its more upside best case scenario.

I assume in the absence of HOA, you are basically left working out a deal with your neighbors if a common area is in need of maintenance or repair (roof, common walls, deck, porch, fences, driveway, etc.).

In this scenario many investors turn to properties attractive to low income tenants - sometimes very profitable but always a managerial headache and often a managerial nightmare.

Using the following scenario I was hoping someone could explain it.

The most common drawback to buying an existing home is that it is likely not going to be the exact dream you've imagined

I am willing to work for free in exchange for the knowledge of the in’s and out’s of the business.In reading through the post on BP, a common suggestion was to locate a local REI group and you can make a lot of the connections you need to make there.

Years of new paint will enclose most lead based paint, but the places most commonly re-exposed are wear points such as window sashes and door jambs, especially check the hinge side of the interior door jambs where they meet the floor.

Scenario -Lease Application for one tenant (checked by our realtor) - great employment history, rental history and credit score.