the owner just had a stroke and has other properities. this one is the only fixer-upper, he basically just wants out. i,m taking an equity loan on my house for $40000 for down payment, closing, and a small credit line(about $12000). my main concern is the labor charges of contractors in my area. the on-hand cash would enable me to get local handymen and cheap laborers to cut into alot of the cost of teardown and disposial. also a friend workes for a local home builder and is willing to do alot of the drywall work and floors on the side.

You have begin absorbing data in such a fashion that will enable you to discern whether or not a property is a great value.

I figured that would be the easiest way to get my feet wet in the real estate business and enable me to learn more about the business.

You can send me the lease application , to enable me to review it ahead of time.

Wouldn't that enable you to put a commercial loan into the name of your LLC without bringing your personal credit score into the picture?

I would be fairly sure the bank offered you the option of de-winterizing and re-winterizing the house to enable you to inspect the plumbing system.

It enables us to work with them and then evict at any point if they are late and stop communicating and working with us.

And condoning bad behavior is not 'having a big heart', it is enabling.

I was certainly planning to leave enough spread there to enable an interest rate "sweetener" if needed to entice the reinvestment.I like the idea of IO.

Knowing how to do things myself enables me to just fire someone and do the task myself in a pinch.