First Time!
They say you never forget your first time. 
I just got confirmation that my offer was accepted (by the seller) on my first investment property. I feel like I did my homework but I am still a little nervous. Wish me luck!
I am thrilled for you! Hoping I get an affirmative on my pending offer........ Again, Congratulations!
Congrats on your first, what are the details?
Get started on your second deal if you haven't already
[addsig]
8 units, will throw off about $500 per month positive cash flow when brought up to market rent. Currently fully rented but rents need to go up.
you can always clear the title. in my state, you'd file what is called an Action to Quiet Title. VERY simply - the lawyer sues everyone back to the Penn family who were given PA land from the Queen of England. If no one comes forth to claim the property during the prescribed wait periods, the judge orders you the owner and no one can later come forward. Don't know the cost but it used to be ~$5000 due to high advertising costs.
I agree. Without good title no mortgage company will touch it which might limit you in buyers. Spend the few hundred bucks and clear the title. Start now and after rehab rent it for a bit. The QT takes 3months to 1 year hence my suggestion to rent while waiting for that to happen
Thanks, Very good advice.
I was considering purchasing a property in a similar situation and my attorney said that this petition to quiet title would cost me $500-1000 when it is all said and done unless there was someone who tried to claim ownership to the property.
I don't remember how long the process is but I would assume it would be about as long as a foreclosure in your state.