The article was the result of a discussion at the Bon Fire at the Field Guide and the editor made a mistake when she released it for publication.Each investor much evaluate their potential risks as they see fit.

The risk isn't losing the property, the risk is losing the property and becoming embroiled in two lawsuits.

Unless the deal makes sense at your current price and the $6K up premium is not worth losing future profits over, my advice would be to let this deal fall through and make another offer based on the new MLS listing price, At this point it comes down to what the property is worth to you and if you are willing to risk the deal over $6K based on your projections.

I'm looking for lower risk cashflow properties upstate NY by colleges near the Albany area (Troy / Schenectady).

Great risk = Great Reward, but it can also bankrupt you if caution is not used.If you have a "day job" this strategy is very difficult.

Wow, after spending so many sentences telling us how much you hate wasting time, I have to imagine you wasted at least a half hour on that useless post...I have to agree with MikeOH on this one...You sound like you want a way to "get rich quick" with no risk, no real effort, no pain, and no hard work, etc.

Have you guys done anything to mitigate the risk?

Rarely does a fund manager who studies every facet of the market beat the bell weather indexes so why would any one beleive that you will. eduacation, control and balls to take calculated risks is how you become wealthy. nuff said. good luck

A lot of drug activity, gangs, prostitutes, drive by shootings,murders, daily gunfire, etc. etc.Another forum member had a 50% rule that applied to war zones.Enter at your own risk, you have a 50% chance to come out alive.

With this house i dont think it would make much sense to fix it sense the profit of margin is very small. however it would be a good learning experience , yet a risk.