When you need legal advice it should be discussed openly at the meeting and a motion made to contact the lawyer.Fishing Derby Funds - a set amount (say $1000) should be left in the account from year to year as seed money.

@Pierre Dalati No, please don't do BS stuff like 30 day inspections, that's just being a dick to sellers and asking for trouble and a bad reputation.All you need is to get an option on the property.

Fairfield Harbor has plenty of nice folks and a lot of homes have been rehabbed out there since Florence but you can’t fix the fact that it’s low and prone to flooding.  

You can get a premium tenant and a premium price in exchange for helping them to buy.My experience with regular tenants is that even the good ones are constantly calling you about little nonsense issues.

After doing an extensive search I have found 4 property tax liens an IRS lien and a 1000 dollar delinquent water/sewer bill.

I'm a new member and a yet to invest investor.

Here is the info:-3 bed, 2 bath, 1300 sqft, w/ detached garage and a corner lot.  

Im paying off student loans and a little bit of credit card.

Gone are the days when a property was offered up for  no more than the amount of taxes owed, now days it has become a bidding process and as in any auction enviroment people tend to get emotional about their bidding and become quite impractical, and irrational buyers

Also I am interested in building 3 floors and a basement and based on what you said it should cost a minimum of 250k just for construction.