Usually the payoff from lender will provide an itemization of HOA (if applicable), PITI, Attorney Fees, and all other fees that will drive up that debt.Is the title still in seller's name, if not, it will have to be reinstated in seller's name.This is but a fraction of what you will have to deal with when dealing with preforclosures.On the surface, it sounds promising, but there has to be more time, so the clock will have to be stopped by a TRO or Bankruptcy or even a possible contract from buyer.Could you pay what is in arrears and try and modify the loan?

I don't know how long the eviction process takes in Ohio though so it may be worth trying to get him out on his own but it sounds like that isn't going to happen.

If it sounds too easy then walk away because it is probably not a good deal. 

sounds about right.And I'm new to this 'house hacking' term -no one in real estate (at least in Florida) uses it unless its a Bigger Pockets member or millennial, but from what I gather, to house hack is to buy a home and then rent out the bedrooms to offset your mortgage.

Hello guys....Name is Jaarno.I also invest in lethbridge and areaThis sounds like a good potential deal!!

If not, does that sound right to you, IRS would be made whole thru the excess funds thus that problem has a light at the end of the tunnel?

I was reviewing recent MLS listings in Racine and noticed a 3 BR, 1.5 bath 2-story house in Racine that had been listed in October 2017 for $89,900. The house did not sell at  the time. It was relisted in mid-July 201...

Doesn't sound like a real seller to me.Call the broker to gather more information and feel him out.

@Jeremy Gotro selling on a lease option can effect your DTI the same as if you were just keeping the home and could thus effect your ability to get into another loan.

Sounds crazy but there are banks out there offering this.