And if you go under contract as an individual, can you then JV with another investor or is it too late?

Some of them even walk off the job, even after they pull permits and are technically responsible for the work.  

Individuals are purchasing these properties, rehabbing them, and raising rents.

Hi @Jeff Flynn, thank you so much for your response!

we did this a lot pre 07  in that year Oregon WA and then CA made laws that had lots of teeth about dealing with those in foreclosure.. so we just stopped doing it risk was not worth it.I cant see how an individual can do this really..

I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me. 

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

Quote from @Brittany Daubner: @Tyler Gibson, thanks so much for your response! 

RISKSPrivate Letter Rulings There are three (3) Private Letter Rulings (“PLRs”) that address this 1031 Exchange structure, which are as follows: Private Letter Ruling Number 2014-08019Private Letter Ruling Number 2003-29021Private Letter Ruling Number 2002-51008PLRs can only be relied upon by the individual taxpayers that requested the PLRs.

You can run one-off searches for phone numbers and email addresses, and they often have promos for new users.Spokeo for Professionals: While not specifically real estate-focused, it’s a reliable option for finding contact info for individual property owners, especially for one-off searches.Forewarn: This is great for verifying contact details and gives a bit more intel on leads.