I provided a free rent back for 2 weeks so the seller could get her funds and relocate.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)

Allocate equity based on contributions: you provide the $235K HELOC and management, while your former boss contributes renovation expertise and labor.

So, I am indeed getting monthly payment from my buyer that would cover both monthly mortgage payments and also provides me interest only payments on the difference between the sale price and mortgage payment. 

Quote from @Michael Smythe: @Tuan Tran don't fall for all the hype about S8 by so called online "gurus"!

Also consider networking with investors active in those areas who can provide insight on what’s working.

Use your skills to network with local investors and professionals by attending meetups in the Conroe and Houston area, joining online forums, and connecting with property managers or realtors.

If anyone has done this type of project before and has a detailed/itemized breakdown of project cost (invoice), I would truly appreciate if you can provide me with a copy and any guidance.thanks!

if i were to acquire these and have them be owner financed, I would want clear title and the other mortgage on this lot removed - especially if my loan has a balloon on it that matures prior to the existing loan, as how would to provide clear title?

Denton County offers opportunities in suburban and college town markets, while Grayson County provides affordable entry points with cash-flow potential.