If he could potentially sell more (or all) the properties in one deal, it might save him considerable time and money.I bring this up because my wife and I own two duplexes in Newburgh and are currently looking for more small multi-families in the Hudson Valley.

You can charge a higher than market lease payment and count part or all of their payments and add it to their down payment so they have more equity and are more likely to qualify at the bank.

Is trusting oral statements rational today - - statements from an unlicensed broker who needs to keep the end seller and buyer anonymous?

Ideally this will pay for most or all of the mortgage on that property so I can eliminate most of my housing expense compared to what I am paying now. 

@Tony Castronovo Have you considered allowing a property management company take over some or all of your current rentals?

Realize that one or all of you as individuals may need to qualify for the loan.  

My situation/strategy:I have $10k-$15k to spend (clearly not enough to pay cash for the property or all of the repairs) I would like to find a way to partner with him, fix up the property, refinance to pull money out of the house, rent it out or flip.

My situation/strategy:I have $10k-$15k to spend (clearly not enough to pay cash for the property or all of the repairs) I would like to find a way to partner with him, fix up the property, refinance to pull money out of the house, rent it out or flip.

I've found that if you're wholesaling, there's a lot less targeting by area, you kind of just go where the deals are.I mean, if you want to send out direct mail and target a specific area, both of those areas are fine though my sense is you might find more deals in Federal Hill vs the East Side (College Hill) since the latter tends to have more properties owned by folks with a decent amount of $ and I think you're less likely to find distressed situations there.But bad things happen to good people everywhere, including the East Side, so I'm sure there are deals there also.I'd recommend targeting by situation rather than by geographic area, or in conjunction with it I guess, for example something like "mail all the non-owner-occupied 2 and 3 family properties in Warwick" (or in 02905, or whatever) or "all the divorces that have happened in the last 6 months in Providence".

I don't have a ton of extra time in my schedule, but I could help you with some or all of this or just planning.