FYI: As stated in the title, (of this post) I am in NYC, have $8-10,000 on hand, my husband is working (Full-Doc), I have a steady freelance position, (No 1099 or tax returns yet, only letter from employer) There was a bankruptcy 2 years ago (Husband only) and "my" scores are low mostly due to no established credit.

We primarily do absentee owners but have used all sorts of lists including vacant, expired listings, evictions, tax delinquent, probate, pre-foreclosure, bankruptcy, high equity, unknown equity, etc.

If they acquire the property using a loan that would be in the 1st position then you would be in 2nd position. 2nd position is only ok if the house has plenty of equity in it.If the house is worth $200k and they have hard money for $160k and your lending $50k you would be at riskIf project stalls and they file bankruptcy you may get wiped out (or a portion) or if they stop paying and the 1st forecloses then you may get wiped out (as the 1st will have legal fees etc that ramp up the costs)

I know this is an old post, but does anyone know how negotiating after inspection on a bankruptcy sale work?

For retail especially if national tenants where the lease is backed by thousands of locations you have a property manager but really not much to do on those.If you owned a retail center with all mom and pop type tenants that is a different animal completely.Typically 25 to 35% down depending if you want full recourse on the loan, partial recourse, or 100% non-recourse ( still has carve out language for fraud,filing bankruptcy,etc.)Cash on cash is about 8 to 9% going in with a 7 plus cap rate property using leverage.

He has no money and little management skill and allowed the properties to go to the state land commisioner's and filed bankruptcy before I got involved.

The goal is to raise $10-20mm in order to invest in a specific area in the South-side of ChicagoHere is the focus:Multi-family, Office, and Land$500k - $10mm assets with value-add and core plus risk profilesOn- and off-market opportunities sourced through brokers, note purchases, recapitalizations, shore-sales, and bankruptcy salesMedium-term investment cycle (5-10 years) My partner is a man who has lived in Chicago his whole life with 50 years of RE experience.

They will bid it to that amount.You can search the county recorder for a property to see the original mortgage and then run an amortization schedule to estimate the current mortgage balance.A lot of legwork, as many get pulled day of because the owner filed bankruptcy.

He also declared bankruptcy.

Foreclosures and bankruptcies turned home owners into renters.