This is what makes this very tough for a homeowner to buy something to live in. as they get lazer focused and it never goes to sale. they waste time and energy chasing it.And if its LA if there is any equity at all you will have massive competition..For due diligence simply order a preliminary title report for a few hundred and that will tell you the story.. some auction sites will publish the TSG  but not all.good luck

You can check out my first flip rehab story I posted a few days ago.

It’s a bit of an interesting story has to how I wound up here, but where I am now is this:I just took possession of a property via deed in lieu of foreclosure, but it has a squatter in it.

Long story short, since I was 14 I  had been working for my dad in  residential construction.  

If you cannot walk into your local bank and credit union and based on your relationship with the bank IE large deposits and I am talking in the multi hundreds of thousands.. or very large incomes I am talking in the multi hundreds of thousands.. and or very long experience level I am talking decades there is NO money at those rates. what there is   is money at 9 to 15% or higher.. once you grasped that concept and folks stop wasting time.. then you just plug those numbers into your deals.Now if your talking about yoru 4 mortgage slots for rentals  that's a whole nother story but if your looking for fix and flip type funding  etc etc.. the niche is the HML in the country and there are a lot of themget a copy of the Scottsman guide there are list there of reputable national HML.

I can't tell you the stories I have heard-How to finance the early deals?

Anyone that can refer me a company/contractor in Chicago that can do this type of scope on a 12 story building is appreciated.  

Long story short I would like to do this again obviously the goal would be to create a huge portfolio.

Moral of the story, Fannie Mae and Freddie Mac along with HUD loans are not sold down to street level investors.  

Let us know how the rest of the story plays out.