There may have been no need to go through probating the estate, if the property was jointly owned (both the man and ex-wife having their names on the deed); in many places, there is the notion of joint ownership with rights of survivorship, so that the passing of the one co-owner leaves the property to the remaining co-owner(s).Now, the possibility that the ex-wife put other names on the deed complicates matters - they now have ownership interest.

I agree with all you guys say as advantage and being held with higher standard.The only thing not mentioned, is depending where you hang your license there can restrictions on how many times you can transact per year @ 100% commission for you personally.I don't think real estate licensing school helps u in investing, but if you are newbie its a good start.You get more here on the topic.

If u want, we can collab on some marketing.

It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

Or you could could have a separate joint venture agreement, that handles when he gets paid.

Thank u for any information.

What would you recommend far as meeting someone familar in the area and joint venture if I'm in cali?

Like I said,I was hoping to get this shortsale property using 90-day transactional lending and then finding a lender that would refi without any seasoning....I wasnt clear on that in my initial post. but i guess until i figure that out i will wholesale. and Raymond B. i love to chat with u more and maybe pick your brain.

If you have a joint bank account as an unmarried couple, thinking you both contribute to pay expenses and collect rents in it, the other person can empty the account and leave town and you don't have much recourse.

For example.....25% down = $12,500[u]Then what sort of cash reserves/assets would a bank want to see in order to secure this loan?