Lastly, I make sure that we are double checking and doing proper due diligence - I walk the property and do an in-depth investor walkthrough for them, we do a home inspection, we have a licensed GC to walk and write up an itemized bid, etc.And to answer the last part of your question, one of the hottest markets is Columbus Ohio!

The returns were OK, but nothing to write home about. 

If you ask them to write an offer, don't disappear for weeks at a time after you make the offer. 

Need to be sure you include the "unknown budget" and never take the optimistic approach as it is better to have money left at the end than writing more and more checks that were unplanned for.Again, if you can walk through an actual property and compare notes with someone that does it in your area (key factor), you will be way ahead of what a generic book can give you.

So yes, in writing.

ThanksBrett, we do flips and rehabs and have several lenders in the area that specialize in ARV "style" loans.

I think I might look into donating it just to get a tax write off as well as stop paying taxes for someone else's land.

One thing I was considering was an LLC/S-corp style entity where I can manage it while they get equity.

@Mark HafnerI've been investing internationally for many years but it's very difficult to answer the kind of questions you ask without writing a dissertation so I'd encourage you to ask more precise questions in the forum.

Here's the link to join the discussion group (note: This isn't my group; I'm just a lurker there).Then there's also another, even more active, group for STL-style investments (locally known as Alojamente Local): AL English.