I was set to close on a house today (currently in it's redemption period of foreclosure) but the appraisal last week discovered that the square footage had been listed as more than 250sf over actual, taking the price per sf from $74 to $86; still ok but not nearly the deal I thought it was.  

Additional information:- I'm a FL resident so going to see the actual property is possible.- It would be my first deal.- It's a turnkey property.Thanks for your input!

I guess I'll make a introduction here as I come out of months of lurking the forums.

If we proceeded the deal would be contingent on actual financials being provided.

I've narrowed it down the choice between two carriers and there's a significant price difference between the two, as one offers replacement cost and the other actual cash value.Purchase Price:202,500 Loan Amount: ~$160,000Option 1: $1500/yearCoverage Amount: $205,000 - ACTUAL CASH VALUE Includes: Liability, Earthquake, Loss of useOption 2: $2,800/year Coverage Amount: $500,000 - REPLACEMENT COST Includes: Liability, Earthquake, Loss of useI can't decide which policy is more appropriate to protect my investment.

Then use 1031s to consolidated your holdings into fewer or bigger assets or assets that are passive and enjoy life.One other note about 1031 is that it may have value with the properties you own now in that if they are not the greatest performers you can actually access more cash equity from a sale than from a refi . 

I would also inform the mother that you will not be working with her and that you require the actual tenants to contact you with any issues.

I never actually wanted to sell them, but if I wanted to grow faster I needed to. 

The actual percentage whether 1% 2% or whatever will vary by market and personal choices.

It might be in a file if you actually go to the probate court an look at the files.