You do need to be ready and able to assess their ability to manage your business and make a change if needed - that's a critical but different skill than being a landlord - and precisely the point where some business experience comes into play.

Low ball offers are not what works.

I would love to get a mentor to help on my first couple of deals so that I can get the ball rolling again

I understand what is being said as far as low balling the bank but, after average repairs on the properties I would own them at about 70% of the ARV.

I am sure you and all agree with that.That all said, the ball is now in your court to stick around, contribute to the forums, stay active and prove yourself as a valuable member of this community as I have had to do (and enjoyed almost every minute of it) and so may others like me.

Just spit balling (assuming she's 60 days late and paying penalties as such), I can't see her owing much less than 85,000 after 28 payments.I haven't been inside the house yet (it just came on my radar this morning and I did a drive by to make sure the roof wasn't caving in and the windows weren't falling out), so I have no idea on repairs.Even the worst houses in the area are going for 150,000-160,000 on the actual retail market.

I'm willing to supervise workers but I would rather spend my time trying to find my next (great) deal in order to keep the ball rolling in an efficient (and profitable) manner.

Personally I like 65%, it's still in the ball park and doesn't offend too many potential clients. these numbers depend upon your local investors(many pay up to 80% of retail) and the property location.

I have had 2 wannabe hard money brokers waste my time and then drop the ball at the last minute.

Then I'll place my low ball offer.