I again state the problem is with the underwriting.  8.5% vacancy, pm 15%, 25% turn over (using my reduced numbers) or 37.5% using your actual, my minimum maint/cap ex would be 50%, prop tax, insurance, missed payment (seeing my vacancy only included the one month turn over), P&I?

To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

Asa result, we are seeking alternative methods for acquiring off-marketproperties.While we havedeveloped a robust system for identifying and pre-qualifying potential landparcels, one of the major hurdles we face is reaching the property owners.

They have a balloon payment for the principal due in 10 years.

We use a third party servicer to do all of this - much easier and when starting just tracked payments in wuickbooks as servicer tracked everything else 

So give those folks the choice...go pick veggies or lose your welfare payment.

I've been able to afford my payments so far without much issue.

A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

Trust invests the cash to make the payments on the installment sale to the seller.

The tenants, who were always good, fell on hard times and could no longer keep up with rent payments.