Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

It requires no money upfront, so you will join thousands of others trying to do the same in your market.

I help investors find opportunities in the NYC market, specializing in residential and commercial properties.

You can get screwed on changing markets and unreliable contractors though.  

Study the market.

If market appreciates you can get a HELOC on it or cash out refi in a few years to scale faster.

Have you looked into the markets you want to be in?

And they may consider selling the house quickly to an investor, who picked up on the process at the NOD stage, mailed a marketing piece, to which the homeowner responded.  

Engage an investor-focused realtor/broker in your preferred market (this is not a residential realtor) and start 'tire kicking' the market and properties that fit your criteria.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.