Emphasize how this arrangement could work to their benefit, offering steady income, avoiding a traditional sale process, and giving them the freedom to move forward with their plans such as buying that sailboat and sailing around the world.If they ultimately decide they’re not interested in selling, you’re still in a great position to continue your search and buy your own property in the near future.

My wife and I are in the process of looking for our first investment property and look forward to networking with the BP community.

We learned a lot through the process.

This can be especially helpful if you’re uncertain about repair assumptions or costs.If it’s a contractor you’ve worked with multiple times, involving them early in the process is often beneficial.

It has been good to be brought down to reality and realize that there will be many struggles during the process.

For example Delaware has additional default rights and processes that an investor can follow if they feel they are not getting old books and records.

I’m also in the process of launching a new home inspection company, which I’m confident will help me get back on track financially.

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

., broker fees, MLS dues, continuing education) versus alternatives like working closely with an investor-friendly agent.Consider whether the time required for licensing, post-licensing education, and maintaining your license is worth it for your investment strategy.If you need help finding an investor-friendly brokerage in Georgia or navigating the process, feel free to reach out!

If, through the process of renovating the property, the market shifts, do you have an alternate plan for the property, whether it be to live in it until the market improves, or convert it to a rental property, etc.