This is probably a great opportunity. Once you buy it set up a simple LLC, and quit claim the deed to the LLC (for the house at least) then if anything goes awry you are prety well covered. Will the house rent for more than expenses (I suspect it will at that price) and you get the lots for free. You get an income producing inflation adjusted asset that buys itself, and a couple lots for your own self sufficienty purposes....very nice. BTW, I have two rental houses not witht he second undergoing renovation and I also just bought two empty lots at the county tax property auction so we are thinking along the same lines here.
Jack of all Trades
Precinct Commiteeman Precinct 5 Rock Island Co Illinois
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