I am sure you have all sort of spreadsheets and formulas on your PC.

Hey-- I did a search on this and got some info on property tax liens and irs liens generally, but what I'm interested in is if anyone has targeted these homeowners specifically to try to buy their houses.Should be pretty motivated, but obviously you'll have to deal with the IRS or Property Tax Lien-- either try to negotiate down if it's an IRS or will prob just have to pay it off if property tax.

I was planning on contacting some of the owners in order to see if they are looking to sell or work out some sort of deal.Unfortunately for me this is coming at one of the worst times as I am about to have the majority of my liquid assets tied up in a purchase that is in the process to close….taking forever going on 4 months since the initial offer.Besides the aforementioned research I have approached my banks to see if I may be able to apply for a general pre-approval for a maximum amount so that if I was to jump on a deal I could get the financing hammered out in the time before final payment is due (waiting for a call back).

I assume I need some sort of document just not sure what.

If he's a landlord... he's not an idiot (well maybe some are)...So this means... either one he has some-type of motivation aka need money, rate reset, law suits, or moving to Zimbabwe (JK on that part)... you need to find this out...What I've ran across is... alot of "land lords" want to dick use investors around because they want to just - "see how much they can get"...So finding out motivtional level is huge.

We are locating motivated sellers and negotiating deals at 50-70% of ARV.

Do you have any sort of agreement documents outlining when you can pull your money out, quarterly update requirements or anything?

Put yourself in the shoes of a motivated seller.

I would think with 35k you could find some motivated sellers that will offer you owner financing.

If you were looking to purchase a buy-and-hold rental in this manner, what sort of terms would you look for that would be fair to both parties involved?