Has anyone been in this situation before? 

The situation in your market could be the inverse. 

We could have sold for more in 2008, but, our tax situation at that time did not make us as much profit.

Getting someone else to give you there house so you can profit from it is a difficult task, but a couple points you can make to sellers, depending on their situation, to help them see your point of view and want to do the deal are:- Earn Hassle Free Profits- Get Multiple Pay Days- Sell your house with No Commissions- Rent your house Without being a LandlordThis all stems from the strategy of the Seller receiving an upfront Option Payment, Monthly Rent Payments to cover their PITI, and Profits when the property Sells.  

Looks like a good deal for you and I like your plan to reposition conservatively.Just make sure that your estimated expenses are taking into account traveling to the property a few times per year, at least until you get everything situated.  

Team members look to the team leader to get leads, have experience in difficult situations, etc, and all that is stuff that comes along with experience.

You need to talk to the mortgagee to find a win-win situation where they are happy and you are happy.

Hello all,I'm looking for areas of Fort Worth to invest in buy-and-hold properties, but there is a tremendous amount of competition and I have lost out on several properties with multi-offer situations despite having perfect credit and financing in place.  

My husband and I are in a similar situation.

@Daniel Hyman, this group has been very supportive and that's what I have been needing in my situation.