Sam - Are you interested in selling  one or all of these or looking for a partner to do more deals with?

Then you adapt and adjust :) In the end start and worse case scenario you wrap something up, have an "oh crap" moment as you find out it's infested with God knows what, or everything needs replacing, or all the fun unforeseeable stuff, and then back out and try again :) Mike

If you want to be more conservative, subtract off part or all of your purchase, holding, and sales costs when determining your maximum offer price.So, if you find a house and you determine its ARV to be 200K with 20K in repairs, you would be willing to pay 70% of 200K less the 20K repairs, or $120K.

I may be off base, but based on my own personal experience, it seems that FCs that occur now are the properties that are more or less abandoned (or all communication with the lender has been cut off).I may be wrong, but that's how it looks from my point of view.

When an owner gives you a master lease with an opton to purchase, the owner is relinquishing some or all control of the property (regardless of how legal or equitable title is held).  

I would also talk to an long time experienced building inspector in that area that maybe aware of any restrictions or building issues that he may know about in doing what you want to do there.Make sure you understand any or all investment conditions put into writing as well as any obligations that are financial or monetarily involved. 

it gets more complicated but thats the basis of doing what is called a wrap or sandwich or all inclusive or simply a second DT or mortgage. depends on what part of the country your in... the basics are the same though.

East side in particular.Look forward to working or talking to some or ALL of you!

Correct me if I'm wrong please but can't you buy the property sub2 for 180 contingent to you finding a buyer within 30 day who will buy it with owner financing (at a price closer to or at market value), require a 10-20% down payment then use part or all of that down payment to pay the original owner of the house (assuming they will use that to pay down the mortgage.

Do you deal with properties in the market or all over?