Companies put lots of money into researching where to build, then the info often finds its way to the internet for free. 

I've obviously seen all kinds of wholesaling contracts around the internet (Purchase & Sale, Assignment, etc.) as well as several JV agreements, but I have no idea what kind of agreement it would take to put that kind of arrangement (someone inspects the property for X% of the profit of the potential deal) into writing.

Clear you debt before you start GAMBLING on investing money you do not have.

If your ad is on the internet, you may be violating the lending and securities laws of all 50 States and the SEC simultaneously.

Life's a gamble.

It would be a big gamble to buy this thing and not break even and then enter into any sort of issues with maintenance or finances.

All i could say is first need to do your research, you need to know the market status on your area, trends, and also if you could utilize the power of internet, like make an announcement on facebook or just create a website, forthomebuyers is doing the same thing and they focus their market on Texas.

It might have enough appreciation to offset all the money you throw at the house in payments and maintenance, taxes, etc, but if you want to gamble with your money, there's better ways to do it.I think you need to start with goals and decide if this deal lives up to your deal standards.

I know in our area here.. most realtors simply are not going to work with contracts that don't have POF's  they have trained their sellers that its a waste of time to work with any contract that does not have POF>and not just mail order internet POFs must be from local reputable lender that they can verify..

Have you ever gambled any game in casino when you were in Vegas?