Posted by chris on January 15, 2000 at 04:14:06:
It might be a good idea to figure the value through comps from the area instead of just the tax assessors’ value.
How much equity do they have in the property? Will they accept some cash now and the rest later?
Find out the market rent for the area so that you have something to figure cash flow with if this will be rentals.
If this is 50 miles from where you live and you plan on keeping it you really need to consider if you want to have to make that trip each time something needs checked at the property. I am going with the notion that this is a long term for you so maybe you would want to lease option it out to someone who has some basic repair skills. This would help cut down the trips to the house every time a toilet overflows.
How long are the current tenants in there for?
Just some things to consider.