That assumes that $48 will cover the utilities, which unless that's just water, I seriously doubt.

In this case, you will need to CAREFULLY structure the lease-option contract and be sure that you cover yourself.Good Luck,Mike

If I ttake the property subject-to exciting finance, will it hurt the seller chance of getting a new loan for a new house?

We cover the entire gambit of programs including short sale and filing BK's.

I was just looking at a property for 36k and was approved and had an approval letter in 2 hours.Many small local banks will give you loans on lower value properties if you can show that you personally can cover the mortgage and if the property cash flows that makes it a lot easier as well.Just try a small local bank...

The previous agent we used told us to insure it with a vacant policy but when I read the policy it did not seem like we would be covered.

They are going to want to see enough income to cover all of your debts, car loans, credit cardfs, student loans, etc.By the way, don't miss any payments on your student loans.

I always buy on a subject-to or lease option (the majority of the time I buy on a subject-to) then I sell on a lease option.

I don't think there's enough equity here to do much since I can't do a cash deal, and the rents won't cover the mortgage payments.

Subject to: :shock: :shock: :shock: :shock: :shock: :shock: GO SOMEWHERE ELSE!