We recently participated in a free workshop called the flipping formula but after doing some research discovered that we could find the same information and help on here and decided to go that route instead.

House sold for 225k, 1 day short of 6 months from close to close.

It is a short sale that we were able to sweep up because the previous buyer was not able to get their financing in order (lucky us!).

From a short inspection, I saw no vacant units in current marketable condition, but one was getting new carpet and paint during our visit.

Keep things short and simple by citing the contract.

Financing that entire purchase price at 5%, which is reasonable for seller financing, will put you at a monthly payment of $4,026 a month, or $48,312 a year.Private lending is usually short term debt, 1-2 years.

@Catherine Brennan I would suggest getting an umbrella policy for the short time you have the property in your own name.  

I discovered this website after reading The Book On Managing Rental Properties, great book by the way.

Then you can also get the owner to sell you their house and try to negotiate a short sale with the bank.

I have been reading about Owner financing for a few hours and learned about Lease Options and Sub2.Before that I made them an offer hoping they owned the property out rightThe reason behind the offer is in February 2014 I had to short sale  my primary residence, fastfoward march 2016 I started learning in BP, April 2016 I started my LLC in REI.The way I saw this is, get this property with no money down, I can cut my monthly rent from $1,200 down to $800 or less.