They get an agent and put in their hardship paperwork and that holds off foreclosure for a period of time while it is trying too be sold.So if you are waiting for the bank to foreclose and it is getting close and you can throw an additional few months to a year of mortgage free living by having it for sale..... some choose to do that.

Perhaps you find one that is not a shark and really likes you and agrees to help, maybe after you put in the time and effort to earn their trust they let you work for them, or maybe you have another skillset that would be useful for them you could trade in exchange. 

I put in all the capital I had and maxed out several credit cards to get the rehab done.

Yes, someone else said that so it can be recorded, yet it leads to yet another document that needs to be created and what might you put in the memorandum, and does anyone have one for Texas?

Hey Matt,Put in an offer, waiting for reply.

Currently, my part is to find the properties with potential, put in an offer, close the deal and take out the mortgage for the project.

It's a lot of work owning and managing investment real estate and you can put in a lot of time and not necessarily make any money if you don't get the proper financing in place.  

House is 62k and I put in 66k cash.

For instance, there is an old 8-unit complex on 9th & Willow where the city/caltrans plans to put in a sidewalk.  

The fact that he tried it was mind blowing.I have put in a bbb.org complaint and will undoubtedly be proceeding soon to legal action.