The contractor knows that I am in a desperate situation and want to make sure that I am taken advantage of.GENERAL DESCRIPTION:BASEMENT DEMO WORK FROM STORM DAMAGEAS PER WRITE-UP BELOW.DETAILED DESCRIPTION:1.PREPARATION OF JOBSITE FOR WORK- SET UP DUST BARRIERS, TARPS AND MUD MATS AS NEEDED.- COVER HVAC VENTS AS MUCH AS POSSIBLE TO MINIMIZE DUST SPREAD.- VERIFY THAT THERE ARE NO GAS LEAKS CAUSED BY THE BASEMENT FLOOD.- VERIFY THAT THERE ARE NO ELECTRICAL SAFETY ISSUES.2.DEMO- DUMPSTER TO BE PROVIDED OFF SITE FOR DEBRIS REMOVED FROM JOB.- REMOVE LOOSE DEBRIS IN BASEMENT AREA.- IT IS RECOMMENDED TO REMOVE/DISPOSE OF THE WASHER AND DRYER.

Mat,You just admitted for everyone in the world to see that I first asked for my money back on February 7th from @William Fritz (who contacted me on here). 

I would never suggest anyone to put themselves in a cash strapped position to get a deal closed regardless of what kind of deal it is you must have adequate reserves and less stress with coming up with cash that you had already allocated to something else until the lender changed guidelines on you at the last minute..

I have not personally used the BURRR strategy since I am a buy and hold investor, but I've seen the strategy explained as a viable way for someone with little or no money of their own (cash-strapped) to start investing.

syndications if your accredited can be good as well. but the sponsor is the key component here.. more important than the underlying asset.I have personal knowledge of realty mogul and realty shares.. both companies that boot strapped it and are now doing quite well. 

thanks for all the advice, and mat thanks for the invite I'll see if I can make it 

If they aren't strapped for cash and are simply ready to wash their hands of the property, it can be a win win... most sellers in this situation will not need you to point out the benefits of holding paper.Put enough money down to cover the seller's closing costs (including RE commission) and you may have a winner.

…I totally agree with you that many people strap themselves down to long term debt in their homes (really just a big liability if not producing income)….all in an attempt to keep up with the Jones…good play my friend !!!

Plus because we were strapped for time we rarely collected any late fees.  

-Mat