Thanks for elucidating some of these concepts for me.

However, I do know there's codes and rules for the units to "pass" to be section 8, so I would look into those before the purchase (see if and how much you might need to put in) and know some basic things like that if you don't already.

If some of the ammo is old - some of it (mainly the boxes/packaging they came in) can be very collectible to folks and they'll pay good money for it.I just glanced at a summary of the regs for CT - basically the same as KS with a few more restrictions but not much different. 

Basically, convert to using payment rules of thumb rather than purchase price.

@Heidi Lutz - Honestly, pre-foreclosure thing on Zillow is basically pointless (and something they are using for leads, which Zillow is famous for).

They promise paprs of incorporation, minutes of board meetings, a company seal... basically a business in a can. 

You're basically hoping the bank doesn't notice and call your loan (Which is totally in their rights to do). 

Well then you should know the basic closing costs.....title search/insurance, deed/mtg recoding fees, closing fees, mtg docs prep, etc. and also which party typically pays what in your market.  

I have never heard of it before and thought refinancing was not available since we own the home and we basically have a personal loan.

I think that there is plenty here.These are basically $600 rentals by the looks of the gross income.