but, it's not going to be "profitable" for several years, depending on how you define profit.you'll have a down payment, then closing costs - which new investors always seem to be shocked by - then potentially some costs to get a property rent ready, then you'll pay a month's rent to get it listed and rented out, then you'll likely have some repairs after the tenant moves in.  

I was thinking I could put down the 50k so he had enough to pay off the heloc and make payments to him for the remainder to be paid off in 10 years with new renters.

Joseph, the best method for you would probably be the MLS or sites like realtor.com etc.

You’ll also want to know how they handle rent collection and late payments and if they can provide references from other investors they work with.A good investor-friendly agent should have a strong network of professionals like contractors, inspectors, and lenders to help with your investments.

Unless you have a specific monthly target for your payment you can spread that out to make it a Win/Win.There has been a lot of growth in Denver over the last 2-3 years and new builds as well I just closed on a home for a customer in commerce city they also moved from CA and needed a fresh start. 

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

I'm glad to know you received your January payment.

For a sample, consider a $295,000 project with a down payment of 5% and a mortgage payment of 7% interest.Good luck!

that isn’t subject to higher down payment requirements or higher interest.

Our program offers a range of coverage levels, including basic or special form coverage and actual cash value (ACV) or replacement cost (RC) loss settlement methods.