I can then enter immediately enter escrow and close 30 days later.

I've entered the zip code and state, but on forum postings it is showing the location as 'Alabama'.

I don't have a "deal" yet but I am commited to entering this market.

This way the previous homeowner can walk away..you take over responsibility and become the owner of record.When entering into a sandwhich lease option you have really got to qualify the seller of the property...if they are going to stay on title as the owner of record then you have to make sure that the mortgage gets paid...the best way to do this would be to set up an escrow account...but this does cost money and you are trying to maximize cash flow in this situation.Most people have already lost their shirts...the house becomes a liability so I wouldn't worry about the homeowner maintaining the deed...all most will want in these scenarios is quick cash (maybe 5 to 10K) and to get out from under the monthly payments.As far as how to find these people...NOD list...FSBO...properties For Rent...word of mouth..postcards...signs...etc...

Jonathan, You need to create what is called " Double Opt In " When someone goes to your website, in order for them to look at your properties make it so they have to enter their first name and email address.

To protect the depositors, the FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon, to assume the insured deposits of the Bank of Clark County.http://www.fdic.gov/news/news/press/2009/pr09005.htmlNational Bank of Commerce, Berkeley, Illinois, was closed today by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.

Go to Forbes.com and enter "25 weakest housing markets".

It feels like we are entering a reverse bubble on Real Estate where houses have become the turd in the punch bowl.

I am planning on leaving another message tonight informing him that we will be entering the premises tomorrow night for a full inspection.

A person should really know what he/she is bargaining for before entering into contractual obligations.