The rich and the poor can unite over something (throwing a bone to our liberal friends).

If you swing a deal where you can do that, whats left on the bone for you, that seems to be the number to work from at this point, what he owes.

This way there is still mean on the bone and you made a healthy sum without much work.

We ruined the bones of a house we might have been able to rehab and save if we had simply done a few right steps at first.We gave up on it because the foundation was falling out from under it...the city condemned it and we had to pay $10k to have them flatten it.  

I don't think there is enough meat left on this bone to make it worth it as an REI unless they were willing to take less than they owe and paid it with cash at closing.  

It allows me to learn and get paid for it.The designated broker for that firm is has become my mentor for both commercial real estate deals and investing.He is willing to take the time necessary to discuss things and allows me freedom and support for my dreams.It has been an interesting line to walk as both my boss and mentor as it has been fertilizer for my growth.I am very grateful for my mentor.That being said working at the firm has given me access to a WHOLE batch of mentors and guidance.For example today I presented a property to 7 brokers and my mentor at my firm durring a weekly meeting.It is a 4plex, where I would live in one and rent out the other 3 units (that is called "house hacking")They were able to eluminate several insights that I wouldn't have even begin to have asked about, eatch one giving me different view points.They gave me valuable questions that needed to be answered before I moved forward with the project.None of it would have been able to happen with out earning my bones with my mentor and firm.

My understanding is the turnkey companies do not leave any meat on the bones.

It would have been a clincher but unfortunately after inspection it was found to have rotten bones and sewage seeping between the units (yuck!)

The bones of the house are good, it was build in the late 60's.

Are you going to invest in some of the bones to be more high end (fixtures, bathroom, kitchen, flooring, etc.)?