There is no one size fits all answer to your question.

Get an agent and go walk through all the current listings in the area.

You have no money in the investment opportunity other than overhead for your work.The best negotiator walks a mile in the shoes of the one on the other side of the table.

I have seen comments by some posting here that have just given some really bad advice as they just don't have the depth of knowledge in what they decide to advise on or get into, they lack experience to draft a course that really fits the audience here, a national (international) forum.

One of 3 things will happen: 1) The seller will have enough equity to cover those taxes and walk away with cash2) The seller will break even 3) The seller will have to pay out of pocket to cover whats left after what you've agreed to pay them for the property.Good Luck!

A little more complicated but if you have units near your bank, and you have tenants that do NOT have checking accounts, this is MUCH easier than them going to the bank ANYWAY and getting MO, mailing, etc.I have 48 tenants and I only receive 3 checks per month, all the rest are epay or walk in to my bank.

Partner with a seasoned investor and have that person walk you through the details.

So in short don't do what you said in your original post, it's up to the family to determine if it will fit their needs.

FSBOs - Go see them and walk through the house.D.

On the first Tuesday in August, the National Sheriff's Association encourages us to walk outside our homes/rental properties and meet the neighbors.