That will often work out the same price as an Actual Value policy.

I agree with many others here that multi-family tends to work out better for cash flow here.

BTW, we just shut down a lease-option and installment company here in town, Greenleaf Mtg/sales, where the operators were scamming folks into options and refis that didn't work out.

The key to making it work out of state is working with the right people and having great property management.

Unfortunately, these situations are very likely to not work out and then you're stuck.

Connect with a real estate agent in your area and work out a deal: Every wholesale lead where the seller wants too much you will refer to the agent for the listing.

The two of you will need to work out some split for your half of the profit to compensate him.

But it is only a rule of thumb you have to work out your real numbers and see what works for you.

I will keep you in mind if things don't work out.

In theory we could offer to take over the mortgage, take out a new one subject to their terms, pay their payments for them, or some other form of creative financing, but we're simply not sure what's legal and what would actually work out.