I would say as soon as you know what strategy you want to employ and you have a basic understanding of the process - take action!

No real rule of thumb to say a discount will be X%, depends on many factors.I agree with Wayne that you'd be better off with private money, problem is they are usually short term, but there are some little old ladies that would love to get 8/9% for 10 years for the grandkids, but that has other issues too.Now, if you're buying a 100K property for 70K you might do a 90K loan and you may get the 70K, the trick is not to go over the market value of the property and show that you have skin in the game or compensate for the skin like a pledge of other assets.

Additional earnest money could be made say as $5,000 quarterly (initially 5 at the contract plus 4 more payments gives them 10% down....roughly).Payments are "paid out of closing" credited to the purchase price and non-refundable paid to you.To give the buyer a warm fuzzy feeling, give them the "first right of refusal" in the sale contract over the contract term.You can also put in the sale contract that it will be extended as necessary for lending requirements, say no more than 60 days, this gives them one year plus to ensure funds to close as any lending requirement to be met so long as they have a commitment.You need to tell your lender that you will be leasing the property as they will be getting a new policy from the agent.

Basically saying that we are about $200 negative cash flow a month after August and have $6000 tied up in a loan we gave to my 18 year old brother n law.Needless to say, a fine would definitely set us back and my wife would be "upset" to say the least haDev Horn I totally agree!

Ask what they are looking for they may say a lower number then you considered.

I would say a big, resounding NO!!!!

Now let me say a couple positive things.

I will say as a practical matter Tenants seldom have the cash to sue.

In commercial, industrial properties you may look back 3 or 4 years and adjust values if necessary as and look to other citys hundreds of miles away, for part of the analysis of say a shopping mall.

OK, I guess that is better than a car, but its still not much of an investment if after putting in cash for 30 years you have the same amount you put in.It would be far more honest to say "a home is the biggest purchase you'll ever make" than the "a home is your biggest investment".