My question is, how many of you that are using these creative finance techniques have actually put some proper stress-testing on your portfolio?

Sounds like an incredible opportunity, right?

The price spread between non-rehabbed and rehabbed homes is incredibly tight. 

A tenant that keeps the place clean and has low maintenance can be incredibly valuable and cuts your repair and vacancy costs down quite a bit.Good luck hope it works out well for you

Negative cashflow of $850 a month is way to high unless you believe future appreciation to be incredible.

Find out techniques to convince them that even though I don't have some six figure some to bring to the table I'm not just some dead weight trying to leech off them.

The chances of the tenant actually suing are incredibly thin.  

@Dolly La SalleI think, personally, it’s incredibly important to look at future assumptions and understand the risk/return.For historical data look to operating statements for specific properties.

I could use some guidance here.I'm looking at a scenario and I'm new, so any ideas or inputs would  be great.I know a guy ready to give his house over to the bank because he is going broke.I'd like to try and buy his house for a great deal and make it a rental and I'm trying to think of the best technique. since Interest rates are high right now, I dont wanna open a new loan and get locked in at a high interest rate on a potentially long loan. so I was thinking about that promissory note idea. where I promise him to pay his loan payment and it stays in his name, assuming he has a better interest rate than what I could get. any ideas on that tactic?

It can also be brutal, and put incredible strain on your marriage.