@Cindy Carriger thank you for reading. from when i was pulling homes off of the auction site and zillow i had people call me and basically explained that the bank pretty much owns their house now which is why i stopped, keep in mind i switched from that method to the google maps method in 1 day, it just came to me in my sleep, i have 20 letters i need to mail out in the morning from the new method, im anxious to see if i get calls.

Also keep in mind I did not include any closing costs or payments and expenses you will have during the holding time while you rehab.  

Thank you, @Mindy Jensen!

And if you're ready to pull the trigger, just keep reading until you change your mind. I

Getting that experience and peace of mind is invaluable, but I'm sure you know that already. 

Question: how did you structure these deals as to cover your investment in case a seller changed their mind? I

Since you already have a deal in mind, I would recommend you attend the Deal or No deal meeting this month put on by the real estate investors group, CARREIA.

Hi @Mindy Jensen, You cleared this up well for me and this is exactly why I am asking!

Lou,I have never done a deal quite like this before, but one thing that comes to mind is that you should define how and in what order things get paid.  

The first thing that comes to my mind is to reduce expenses and bring the P+I down as much as possible to reduce overhead and provide a cashflow buffer.