I guess what I'm getting at is that I was not 'cornered' into RE, and I am not in RE "to survive."

I guess I'm a bit surprised there aren't better deals to be had then that.

As you may have guessed, my cousin is "not a very nice man."

My guess is that you are working with an underwriter/processor that does not want to make the loan.Talk to the loan officer and have your loan assigned to a different processor/underwriter.

But I guess that would be a good place to start.

I know other family members who work a regular JOB.Their mindset is put money in savings in case of a medical illness or rainy day fund.Take 1 or 2 trips a year with vacation and that's all they aspire to be.They look at me and what I do and think "I am lucky" or "I have it good" that I have my own business.They think I sit at home in my office all day and do nothing.They do not realize I am putting in way more hours than they could imagine.I am sacrificing now so that down the road as I get older (36 now) I can take it more easy.Meanwhile many of these (savers) will be working as a greeter at Wal-mart at age 70 and complaining about social security not being enough.I am not going to be one of those statistics.A family member that is 68 has their house paid off,car paid off,and with social security still lives hand to mouth.I try to explain they need to grow that money to stay solvent but FEAR is what grips them from making a move.Whatever everyone believes we know we are born and in a certain amount of time we die.Where we go after that is up to each person to decide.So you do not have time to let FEAR keep you from making rational decisions and not living life.There is risk in everything.Successful people taker calculated risks and on average win more times than they lose.I guess I would be 4 and 5 since I have my own money but also buy property using owner financed deals.

I guess it all depends on the market, but here in Baltimore area your unit would stay vacant for years if you offered it without appliances.

Sure I travel around some random spot looking at homes I guess could match their criteria.

I'm aware that the seller is considering other options, but hasn't listed with a real estate agent, so my guess is that I'm competing with other wholesalers.She paid $259,800 in 2001 for the 4 bed, 2.5 bath house, which was brand new at the time (She's been the only owner).

If I can mortage 100%, 14% interest, and still cash flow, using 50% rule, im fine with it. when i started I didnt have money to carry properties for 1 month unrented, guess what, i worked harder, faster, and made it work. kinda wish now a days i had no reserves, although my reserve fund is TINY compared to most, I think if I had NONE I would be at one of my empty recently vandalized properties right now replacing sheetrock as oppose to being on BP!