I want to make an agreement that as a consideration fee I will finish the property.I am planning to rent the house to tourist visiting the islandThese are the details:Asking price 324.000Costs of repair 10.000Monthly market rent (due to seller)2.500Market value after repairs350.000My montly income would be+/- 4.000I will propose a lease option deal for 4 yearsHow would you guys as professionals look at this deal?

I too have been doing a considerable amount of study making sure i am well informed.

Your mileage may vary.And another consideration is the design feasible for the space available without an addition or puncturing the roof structure.

Also be sure that you are allowed to put a newer mobile there...some places have grandfather clauses for existing mobiles, but forbid replacing them.Another thing to take into consideration is the cost to move the home--it can be up to $3,000 or so, and you will have to find a place to dispose of it.

He got a water hookup and gardened until he became too old, the garden at times occupying at least 10,000 square feet.When I took over, I realized that renovating the garden would be expensive, and that the water bill would be considerable (he was miserly with water).

., and your belief as to what you want your role in your investments to be, just to name a few.Although the other considerations mentioned by you and others are important, I "saw the light" and truly believe that with a big picture, overall plan in your mind (which could certainly be changed from time to time) you will hopefully accomplish as much as I have in the past 16 years, since my "awakening."

You don't even need to put any money up in all the states I know because you have a promise to buy for consideration for their promise to sell, thus a binding contract.

The very first consideration to your exposure, besides the type of business, is your location.

Being exposed to real estate and dealing with families for so many decades I suggest one must consideration in your planning is that your kids may grow up to be idiots.

However i would take in consideration of investing in a Duplex/Triplex and living there while renting out the other units.