I would push for very low or no money down but having a Realtor that needs to have their fee paid it may still not work.Look up the owner if possible through truepeoplesearch.com and call them up directly.

Getting a mother-in-low to co-sign is not the answer.

I appreciate the reminder as well that if the gain is fairly low then it may make more sense to just pay the capital gains taxes now versus 1031 exchange. 

Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.

I'd imagine at that cost you'd either be buying just a shell of a property or raw land.Thank you,how low have you ever bought a house for from these auctions?

@Kenneth Joseph PerfidoFrom my experience, you’re in a great position with your Newport property, strong cash flow, and a low 2.8% interest rate.

- My first thought is offering cash, but the home owner would most likely just let it go to foreclosure because of how low the offer would be. - My second thought is offering some cash and taking over the loan - there are no liens on the property yet.

I would look for a low interest line of credit to put on the property and lend at a higher interest rate.

When I got suspicious, I asked my realtor to send me a copy of the funding letter which was on letterhead & had the name & phone number of InsulaI do believe two of the partners went with them due to the low interest fees.

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.