You need a discount off the current retail price for it to be a money maker.

I wanted to maker out but I can't.

Dawn,The reason people buy notes because they are money makers if you buy 1st non performing.

He should not be able to just not make rent payment to you because he thinks there is mold there.

Anywho if you want to have a "Automated Deal Maker" you can hire a virtual assistant from oDesk.com for $3 and hr and have them work 2 hours a day on a 5 day week. 3 x 2 = 6, 6 x 5 = $30 a week.

It really is imperative that you have a loan officer in your corner that knows the rules and or has a great support team (processing, underwriting and a major decision maker at his/her disposal)In regards to your plan I think it's great and just remember that a lot of lenders don't go under 50K to lend.I hope this helps and good luck sir.

This is a not a profit maker but I cant afford to lose too much in the process because I am not making a profit.

And I'm the decision maker - these are passive investors.  

This is where an UNDERWRITER (the ultimate decision maker) has approved the buyer's income and assets.  

Then, I would recommend that you interview each company representative (preferably the decision-maker and the person who will actually be manageing the property).