If they just wanted to relieve themselves of the management they could pay a PM 10% of the gross rents for $380/month and come out way ahead.There are a couple routes that I personally would go which is either buy it outright and negotiate a better price, have the seller participate in the financing by wrapping the original note (uphill battle but could work) and giving an all inclusive Trust Deed to the seller, or go the MLO route at the price they want with a 10 year window with option consideration enough to cover the agent’s commission.

Try a dividend paying REIT EFT which allows you to passively participate in real estate without the hassle of managing property and tenants

First always seek legal counsel with an attorney:ask them the pros & cons of some of the following:1) Debt: secure a loan against the property you receive interest payments.2) Equity: record an option to buy the property (ex. you have the option to buy the property for $115k for a specified time period.3) Purchase a partial ownership interest, ex. tenant in common ownership of 50% of equity4) combo equity participation loan , you share in the upside equity.

I've never participated in an auction before, so was hoping for some guidance.

In the future, I would try to schedule the inspection so that you can participate via facebook live, skype, facetime, or some other app or train your friend to do the inspection and document it properly.

@Victor MarquezQuick answer is no.The rules do not allow for one to lend his or her IRA or 401k to a company where the participant is is partner, manager, director or employee.See the following page link: https://www.irs.gov/retirement-plans/plan-particip...

Disclaimer: I'm not an expert on this particular program, but I recently participated in a session for those of us trying to help people take advantage of it and may have some helpful information for you.The program is matching funds, but your purchase price counts as part of the matching funds.

Participate i with an experienced deal sponsor for your first rodeo.

@Joshua SavageWhile in use by the IRA, the IRA rules prohibited the use of the property for personal use. https://www.irs.gov/retirement-plans/plan-particip...Not until the property is distributed in-kind (distribution) in your name whereby the IRA no longer owns the property and you pay taxes on the value of property at time of distribution will you be able use it for personal use.

I’m finally making the move from simply lurking through the forums to being an active participant.