In addition I signed an "Office Exclusive Certification" to Multiple Listing Service of Long Island directing that the property not be published in the Multiple Listing Service This document specifies the exclusive listing runs from 4/26/2016 to expiration date which was left blank. 

@Randy E. thanks for taking the time and sharing a few ideas. 

Recently expired listings are a great way to look as well. 

Jeffery the reason I would not recommend this.. is your putting up all your liquidity to go into business with someone you don't know.they are risking their credit.. and the asset you can buy for the amount of money you have is not going to throw off enough cash flow  (once split) to again in my mind justify using 100% of your liquidity ..these deals don't always go well.. what would your position be if you lost some or all of your money or it is now tied up in a project that you cannot unilaterally get out of if need be.so many other considerations other than I want to get into RE..

My plan is to invest in an owner-occupy multi-family with an FHA loan, and use our savings to fix and flip for liquid capital to buy more properties for rental. 

There are some "e-REIT" structures in the industry that seem to be pretty popular of late.  

http://www.marcusmillichap.com/Email/news/2016_05-...Emerging supply and demand trends for residential and commercial real estateHow brick and mortar retail is performing in light of rapid rise in e-commerceWhat investor sentiment says about the future of real estate markets

Say the current tenants lease expires on July 31.  

We liquidated two, got all our initial investment back, and have three reperforming notes left with a relatively high UPB, on which we plan to collect the entire amount.

Whether it's somebody like lumber liquidators (yeah I know ...say what you will about the recent stuff but when your chips are down they're always there and they'll meet your budget) or contact another local dealer.