(Terribly slanted and self-serving)I am a lender who still has a lot to learn.

But then I suppose the proper GRM would have a lot to do with the condition of the specific property, so maybe it would not be so easy to eliminate possibilites in this way.Juzamjedi, I did infact go to my first Real Estate Investors meeting a couple weeks ago and plan to join up and continue to attend and find out more about these kinds of things.

Stacy Montes ,before you try to pay any of your mother's debts,stop and get a good probate attorney immediately.There is a chance you won't have to pay off most or maybe any of her credit card debt.If your mother owed smaller amounts to multiple credit cards companies like less than than $8,000 thousand each,there is a strong possibility they won't waste spending the money it would cost them to file a case against the estate (not you personally or your credit involved).In a year those debts can be dismissed permanently due to lack of filing a claim against the estate.Now if she owed a lot to one credit card company,you might be able to negotiate a much lower settlement to prevent them from going to court against the estate.The lawyer will explain the laws of California probate and advise you on how to best handle her estate finances.

That would sure slow down progress, but I figure that after 2-3 years I should have enough income history to justify an additional loan.I clearly have a lot to learn :)Charles

It's a lot of fun having a VR but a lot to consider as well so feel free to reach out directly if you have any questions during your journey.  

A lot to consider.

Congrats on reaching 700 post, that mean you have contributed a lot to the community (what goes around comes around :)))@William C.I didn't mean to say all the real estate agents are bad at pricing, but I don't think real estate agents the most reliable source of data.

First recall that to make flipping work, you:know the FMV for the area and configuration of the homethen accurately estimate the rehab expenseand know the cost of holding it until you get it back on the marketadd in the margin you want as a profitand finally (whew), you now have the price at which you can make an offer.That's a lot to know and to be able to do right so as to allow your markup any chance of becoming true.IMO, the issue is knowing HOW to do all of this w/o going over budget.

.$85K Left on the notePositive cashflow ~ $750/monthGreat creditTotal possible available liquid funds - $46K ($8K + $38K).Additional sources of income:1.IRA (Mother coming in as a partner - I would not recommend liquidating IRA), 2.Settlement check of $50KFrom what I see, you have a lot to be thankful for.I love your hunger, keep that hunger as it will drive you to find the way, yet at the same time do not forget to celebrate your wins.You have a lot that you have accomplished, and even more impressive that you have done it by age 23!

There is a lot to learn, and if you want to be really hands off, you might consider another avenue.