I drive through there at least twice a month out of sheer curiosity every time I go to Little Tokyo - just to eye ball the transition.Those homeless encampments in downtown LA are (without sounding insensitive) are living on borrowed time. 

We decided to do a bit more work than planned, but overall we think it was worth it because it makes the finished product better.Also, while contractors up here in the Hartford area are not cheap, Fairfield County is a whole different ball game from what I hear. 

I know there are ways to go from middling income, depleted cash reserves (because of recently rehabbing a property,) and credit crunch, to getting a second property quickly.In my case, I exercised patience. 

For instance, is one way more likely to assure that the tenant/buyer will be able to use the option fee for a down payment a year down the road when they get ready to exercise their option.

Guy that I spoke to said he had the deal for two months and had low-ball offers and mentioned he is just going flip himself if he doesn't get acceptable offer.

Your credit will take a hit.Cost of Debt and Net  Worth exercise: Get a whiteboard and sit down with your significant other.  

Hey Gavin S.Welcome to BP and congrats on getting the ball rolling on your education in REI.  

I still use this exercise every day to analyze deals and I don't act until I figure the deal can't lose.  

William there are two ways you can help this seller using leases and optionsYou have to ask yourself whether not the property is going to appreciate overtimeIf you feel it's not going to appreciate, you need to get a price below the market today on your option with the seller,  if you going to do a sandwich lease option and stay in the middleIf you going to do a lease option assignment where you lease with an option from the seller and assign thevdeal to a buyer for fee, it  doesn't matter what the price is as long as the price is today's value or lessWhen I talk to sellers I don't talk about lease is an option, I first go through three columns landscape in a yellow legal pad,  and show them the basics of the choices: 1) sell with an agent and pay the customary costs include sellers concessions, agents commissions, closing costs, vacant house holding costs, etc.The first column it's important to go through an example of their house value; what ever  the fair market value is, do that exercise so that the seller truly understands he's going to net a lot less money selling agent than ur solution2) Second solution entails leasing out with the property manager, and you go through the cost to lease it out and also the cost to repair and sometimes property managers tack on other costs like padding maintenance costsThen I talk about the risks involved with leasing it to an unproven tenant, and then having to evict the tenant, lost rent for 6 to 8 weeks, clean the house, remarket and screen the new tenant, etc.Before I go through my solution, I say a "what if statement" that is something like this:Before I say the "what if statement" it's important you understand that I am using "negative phrasing" here, and ""appeal to a higher authority" which works a lot in terms deals like lease options, sub 2, and wrap purchasesHere goes.."

@Brendan Morin A lot of FSBO's get discouraged when they receive numerous phone calls from investors/agents trying to "low ball" the listing price and/or terms.