It definitely works, but as you can imagine there is lots of coordination involved and the seller has to be motivated (not too hard to find in this market).

Shouldn't he have to give us some sort of notice that he feels the lawn is too long and a deadline to have it done prior to him doing it??

He fails to have any incentive to be successful.If Mike is willing to participate to help Joe build himself back up, then I would suggest some sort of LLC partnership operation with special allocations to give Joe a guaranteed payment of the cash flow amount distributable and then give Mike all the revenues & expenses, which include the guaranteed payment to Joe and depreciation.

I have heard of people sometimes trashing the homes before they move out, so I was thinking if talks with the current owner go well I could try to make some sort of deal with them that if the property was left in the same shape I saw it at then I could offer them some money say a couple of hundred bucks , assuming I win the auction.

The basics are fine, and if they get you motivated to act, even better, but each market is massively different.Can anyone honestly tell me the real estate market is the same in Dallas as it is in New York?

I also have a lot of motivated Sellers (don't we all), who are looking to sell or have someone work a short sale with them.With all of the great information on this site we can all make some money together and we all know you can never learn enough about this business.

So, lets totally ignore this aspect.If you're living in it for a year, I assume you're getting some sort of conventional financing.

The sellers are now willing to sign off (Via the sellers' attourney).I've already contacted the bank , so we can work with them on some sort of resolution.I'm wanting to get a signed promise from the sellers that they will perform something along the lines of a deed-in-lieu of foreclosure once the buyer becomes the mortgage holder.

Hello,As I progress toward trying to work in wholesale business, working with pre-foreclosures and other motivated SFH sellers, I can see that there could be a problem finding good comps as the retail market goes down.

If it was not properly permitted and zoned, those sort of questions might result in unwanted attention.What are your plans and financial situation?