Penalties/punishments are a deterrent, but the $$$ does seem to be available to those that want to work.

In this case, the Seller would have to complete the repairs prior to your purchase in most cases.The final option, would be seek a purchase and rehab loan.

I'll seek some further advice from him.

-Seeking out and acquiring funding to pay for the house-Finding tenants (no one currently living there)-Also, possibly finding a property management company to help (I want a hands-off approach)-Other steps/costs I have not thought of.I would greatly appreciate any feedback to help point me in the right direction, or even be a "bird dog" for someone else to purchase this property.

-Seeking out and acquiring funding to pay for the house -Finding tenants (no one currently living there) -Also, possibly finding a property management company to help (I want a hands-off approach) -Other steps/costs I have not thought of.I would greatly appreciate any feedback to help point me in the right direction, or even be a "bird dog" for someone else to purchase this property.

Seeking duplex and up.

First, a little history:A realtor approached me through one of my ads seeking investors.

I set up a LinkedIn account, but haven't done much with it, however; I just realized a few days ago someone that had posted seeking property had checked out my LinkedIn acct.. ..

I second the fact that you need to find another lender. no pre payment penalties ,3-5 points, 10 to 12%APR, and LTV of 50- 70% - You should be able to find this.Good Luck

In today's high volatility environment, most investors I talk to are seeking ways to insulate themselves from volatility using alternative investment vehicles and RE funds are a good venue for that.Cons:Typical REIT strategy is investing in class-A assets in core markets, where assets trade in the 4-5% cap rate range.