At the beginning of a project, my project manager shoots me an email with all the finishing materials; it might look like this:- 1 Exterior Door (36" RH)- 5 Interior Doors (32" LH)- 2 Flush Mount Fan/Lights- 1 Large Fan/Light w/Downrod- 2 Basic Fan/Lights- 8 Privacy Locks, 7 Passage Locks- 4 Bathroom Sinks (19"), 1 Kitchen Sink- 4 Bath Faucets, 1 Kitchen Faucet- Set of Appliances (w/Gas Range)- Etc...I'll bring up my spreadsheet, put a quantity next to each item, fax it to my guy at HD straight from my computer, and he'll generally call me the next day with a bid price generally about 14-16% off retail).

They can also all link to one another or link straight to your home site.

Interest only payments are a great way to cover these types of obligations, even with a straight accrual loan with no payment required until the balloon.

NickA,Yes a straight rental will from what you are saying put you in the negative.We can see a sale is out of the question.I would consider doing a triple net lease N-N-N with a contractor type person or a maintenance/handyman type who you can share equity or appreciation with.You can also actually let your tenant take the active tax write-off under the IRS tax codes as a beneficiary in your land trust..

I've been sent some that are straight off the MLS, marked up by the amount the wholesaler wants.

Selection of your broker will be important depending on your plan.I am going straight for the brokers license.

First, it's very difficult for most properties in that price-range to cash flow, so you'll have a hard time finding investor buyers, and second, most serious investors know how to find their own deals at less than 95% of market value.My thoughts exactly...Also, unless you have some relationships, you will probably find it hard to get a straight $200k line of credit.

It will probably not get you as many deals as a straight cash offer, but at least you won't be in the position you are now if you do get one accepted and don't have the cash.

I might just implement that one as well, so it is always a straight percentage each time.

Do your own research, preferably straight from the local MLS.