I want to know how it works and what I mean is if i approach an investor and tell them that I invest in RE and am looking for funding and I will pay them x % return on their money.

But there are several approaches to accomplish this without further agitating the seller.Be the hero, the problem solver.

Greg Fend, the lease approach mentioned by Wendell De Guzman sounds similar to my dad's approach.In lieu of locking in a nominal % upfront (usually 2-5%) for the option, you increase the rent.

It's expected closing is fast approaching, this Friday (6/28/2013).The acquisition process has been rough.

If you have none of your own money and no experience, this is going to be incredibly difficult to pull off.

I have approached a few investors regarding a JV opportunity on this deal, or one with similar potential even.

Seems you have poked around enough to recognize what an incredible resource this site is.

Personally, I was incredibly relieved to get my own mortgage away from them.

Sounds like a reasonable approach, and he could pay you 30% of whatever the equity is.

. :) Bill Gulley - that's a clever approach that has already been suggested to those who face HOA restrictions on rentals; so gov't restrictions could certainly be overcome similarly (until they re-do the ordinance).