Why on earth would you even consider pre-constructions in a SLOWING/FLAT/DECLINING market?

We're more down-to-earth, real people just talking about investing.

I'm with both Rehab and Wheatie.....get a competent lawyer asap.I don't understand why on earth you'd want to let the bank foreclose because your parents want a new house....it just doesn't make sense.Pay the tax on the 1031 money, pay the home equity loan, sell house, start over.

There is no shame in not being a real estate investor, and real estate investing is NOT the be-all, end-all of the earth.

It is usually perfectly acceptable for rentals or resales in mostly earth tones with patterns.

When you get these go to google earth and take a look at where they are in addition to the photos that are listed.

Google earth and street view can tell you a lot about an area without actually having to hit the street.After doing some online research you would be well served to burn a tank or two of gas to get a true feel.

Prices will come down to earth.

This has two affects in the deal, one it demonstrates that you are trying to cover thier concerns of security, but also, it complicates the marketability of the note, keeping the note in play while the seller still walks the earth.

Also, make use of Google Earth, it can save you time.