I've raked up a backyard and filled up 4 full sized 50 gallon trash bags of poop after a tenant only being there 1 year (so yeah, I've seen some sh**,  pun intended).The dog isn't necessarily a deal breaker, but you should for sure get a decent sized non-refundable pet fee up front, plus an extra monthly fee that will cover the renovations to put the place back together when they leave. 

It's mortgage free, and social security and pension more than cover monthly fees, so there's no urgent need to sell. 

@Whitney R. you can do what you want, it's your life, but I'm telling you $50-$100 over your mortgage is not going to cover one plumber visit or one HVAC repair.

The property would have to appraise at the $101,000.The concessions can cover things like the prepaid taxes and other closing costs related items.You also have to ask for the concessions while you're submitting your offer.

From my understanding of the market, this property is under-valued as homes in LA go, which gave me reason to make an offer, but blinded me to the reality that it was still not enough to cover monthly costs.

My uncle was the finance guy putting up the 20% down, covering the rehab costs and holding.

Every state is different as is every insurance company but being that you likely cannot 100% confirm that the loss occurred during the time the past owners policy was in effect you would be hard pressed to have such a claim covered.

in NYC and perhaps other places too, its a big difference between a full brick building (where all 4 exterior walls are from brick) or a building which is frame, even with a brick front wall.i would really appreciate if anyone could explain me how i can find out on a building with a brick exterior wall in front, and the rest of the three exterior walls are covered with cement, if its all brick from inside?

Expect to pay a little more for the property but If it is a duplex most likely the rent would cover a good chunk of the rent.

I also have an umbrella policy covering my basic assets.