I am using an addendum which restricts my loss to my EMD in the event of non performance.Making 1 offer at a time with a short review/ratification period allows me to make several offers in a short period of time, without running the risk of spending a lot of money on EMDs and inspections.

If these are not in place and documented then you will spend a lot of time and $.

I have a cheap house i want to sale to an individual AS-IS, but do not want to spend the money to have an attorney draw up a contract and do a closing.

You first have to become very familiar with the market and you initially must spend time in the market. second you must develop a reliable team if not a property manager at least a handyman and contacts for more complicated repairs.

After spending much of 2012 in the process of refinancing several mortgages, I am starting to get a little frazzled at the way bankers treat people in general.

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

An attorney told me this cld be done, again, I just preferred not to spend the $350 per hour, so trying to find another way to achieve this, there is a way, let me reassure everyone here...as Yoda once said, Steve B, "Can't never could"....maybe it wasn't Yoda :) Here is what I'm trying to do, First I do not want to do a simple transfer, as, one can not profit on the mortgage payment, yes?

You're relying on an unreliable communications mechanism to justify spending money.

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If they did all of the above it would be more than worth it to me to spend a couple thousands not to mention I would like to help them out/move.