That's definitely a motivating factor to not ruin the garbage disposal.And the other idea I've had that doesn't seem to have been brought up is to do a lease option on the property.

I approached her about selling and she's very interested but my title research shows a Bail Bond Lien for $66k.

Maybe "Minneapolis" would be a good one, so you'll be informed when that city is brought up.

Can you work in RE with bad credit, yes, but it is more difficult and it will limit your opportunities in many aspects of trying to do business.Are you good with people, can you approach a college professor and speak to him and gain his trust in what you are saying or do you have difficulties and only work orcommunicate well with just certain people, then do those certain peopleneed a property or own property to sell?

They may even have to bring in their crew to give a more accurate assessment on other areas at the same time.Our approach is when we go to do a site assessment, we want to be able to answer all necessary questions and keep you abreast of our systematic approach.

The terms that you agree upon are obviously negotiable, but if you're willing to take a small piece of the profit in exchange for sharing your knowledge and guiding someone through the rehab process, that may be a way for you to build your cash reserves.If you take a big picture view and are able to use what you have (knowledge) to help others be successful, you'll be able to get what you want (extra income).I think you'll find that if you take this approach, you'll be in a buying position quite quickly.Best of luck!

I'm a contractor and remodeling specialist and have recently been approached by a real estate professional to possibly team up on rehabbing.

It's a 3 bed/2.5 bath colonial with a pretty open layout (considering it was built in 1969) which would have to go one of 2 ways -1) HELOC it and do a total rehab then list and sell for top dollar, pay off HELOC and use proceeds to fund this "joint venture"2) Sell as is, which is def going to be 50 cents or less on the dollar compared sold comps in the neighborhood (anywhere from 300K to 500K) and use proceeds to fund this "join venture"---> I'd love to hear pros and cons to both of those points <---From an investor perspective - what is the best way I should approach this?

Further reading on this topic is in the next link; some threads there already give some approaches to your question:http://www.biggerpockets.com/forums/41/topics/68977-foreclosure-auction-sheriff-sale-and-trustee-sale-faq

Can I approach the seller as someone interested in buying the house, then offer to list it if they don't like my offer?