It would have to be the most amazing idea as networking is EXTREMLY easy with what we all have access to already.

Interesting idea.

On the HELOC side of things, i don't like the idea of taking an interest only 2nd position loan on your primary to cover a down payment on a stabilized rental.

Would also be interested, still not 100% sure what a mastermind consists of but I think I get the general idea and it seems like a cool way to bounce ideas off a tighter knit group.

It's a great place to ask random questions, connect with people and discover new ideas.

Great idea

Any who if any one has any ideas or suggestions that work please feel free to comment.

For me there has to be some form of repercussion for defaulting or their behavior will just continue over and over and the next LL will have to deal with them with no idea of their previous behavior.

I'm not saying that your plan can't work, I'm just pointing out that these types of extremely cheap properties usually come with TONS of unique management and sales challenges that don't occur with more run-of-the-mill properties, so you'll want to study up on those issues and have a game plan before proceeding...regardless of what you decide to do, it may be a good idea to consider how you could leverage this deal as a springboard to get you to other, higher-grade properties......the good news is that you're only $5k into this thing, so you're not in too deep...yet...Good luck out there!

Any first-hand information on DSTs of 731s would be helpful, or any other creative ideas that could make this deal profitable.