Cheap House = Expensive HeadachesWhy buy 5 units in what sounds like a D class area when you can make the same cashflow with 1.5 units in a safer area with quality tenants.

Coming up with half the cost or maybe if you have two partners 1/3 of the cost is a lot easier than all of it.This all sounds great, right?

@Jesse Kerr the disconnect, in our opinion, is doing everything yourself and keeping it in your head VERSUS a good PMC having to document everything and communicate it effectively to all parties.As the owner, you can make immediate decisions, saving LOTS of time!

Three pages sounds too heavy for a rehab of that size...

This may be entirely, partially, or not at all factual.That said, this sounds like wholesale transaction with some seller financing.

sounds interesting.. would like to hear more about it

Having a small loan on the house I talked with my banker and was told that moving the house would not effect the loan as long as the house stayed in my name.  

It's not a sounds principle if you really want to be an investor.

Sounds like a bit of a stretch but may be able to be done.

Sounds like it could be a great deal!