Then, effectively turning around and selling it, but keeping a cut.

One thing we let the homeowner be aware of, is that no acution/foreclosure sign will be placed on the property.

At $220K it seems like too thin of a deal, especially for a complex deal and you getting a cut.

Unfortunately, if government lets the whole system just collapse--which is what you're suggesting above--the pain will be acute to the entire nation and the world.So certain priorities must be chosen and the priority is for owner occupant properties--not entrepreneurial purchases of real estate.Here is where your ability to put your life in perspective comes in.

I think Jason was factual from a cutting your loses stand point.

Started with a small 3 unit building which he bought for no money down by exchanging management services for a cut of the deal.

It's a cut above my present place.

You can use a "shared appreciation mortgage" if your payback is a cut of the profit, or just an ordinary mortgage if its a fixed about.

As opposed to a marginal deal just because you want to do a deal.If your mentor is making a buck out of this deal, for example, selling you this deal, taking a cut, or doing some of the work, be leery.

I guess it's not so bad, though, because it also increased $150,000 in value since I bought it in summer 2004.So, that place makes a good long term investment, but I think I want to get some places that acutally give me income every month.