I'm at a point where I need to build this thing into a more productive,  streamlined operation and may have two individuals in my midst to help me do it.  

Also, a lease option allows a more marginal deal to become a better deal by optioning it.

Not long after posting that, we found a multi in Boston that was a more "responsible" investment, haha.

Here is a more unclear scenario in a family partnership:Rental property investment loan purchased with the mortgage in fathers name.

You are trying to compensate for your lack of experience with a more attractive compensation model.

I can connect you with a more reasonable place, or, honestly, you shouldn't be afraid to tackle it yourself.

As opposed to a traditional mortgage application where you must get an actual unbiased appraisal done, during a HELOC transaction, its customary for your bbb to conduct a more cost efficient desktop review of title and market data instead.

While I would love a place in a more desirable area, the numbers just don't work for places like Ferndale, Royal Oak, Livonia, and the like. 

Hi Melissa, The Auction i was in was Ending 24Hrs from My post Date, And there were Simply Too Many Houses & I Did not Have Them Narrowed Down Enough as the Auction of 6,800 Houses Closed .Although I Learned A lot throughout the  (Online Tax-Foreclosure ) Auction process, This Part/the " Legal Land Description + Matching it to a " plat Map" Really shook me and ate up Most all of my time Trying to figure this out ,As people/the County were "selling an Address" only to find out it was a Vacant piece of Land next to the home that they hadn't paid the taxes on.This was Frightening that i would purchase Something a Home only to find out it was Not a Home at All.ANYHOW , I WANTED TO GET BACK AND THANK YOU (though this seems alot of work for 1 home when looking at 100s-1000s to Analyse) Wish there were a More Accessable way for the public to match up these "Legal Land Descriptions" Rather then Feeling as if your "Bugging" an Agency for their info..Esp if for Several different properties.I will be Entering another Auction in a Week or so & (Although i will really need to narrow down my interests to use this method) I AGAIN AM GREATFUL FOR THE INFO & WANT TO THANK YOU SO MUCH, I LITERALLY COULD NOT FIND ANY, UP TO DATE,  LEGITIMATE RESOURCES,HOPEFULLY THIS WILL HELP NEXT TIME :)

You'll just need a clear exit strategy and you will carry slightly higher interest rates than a more experienced fix-and-flipper.