The only thing we are a bit confused on is he said you can simply "back out" of the deal if you change our mind...but how would you just "back out" of the contract if there is nothing actually wrong with the home?

There's probably opportunity everywhere if you look for it and come across the right deal, but I don't hear investors beating down the door trying to get into Stephenville.Three things to look for to be in the path of progress:1. 

Purchase price: $260,000 Cash invested: $50,000 Vacation rental What made you interested in investing in this type of deal?

I have found a few decent deals, but pretty hard to find value added or undervalued property. 

How would you structure a deal so that the private money could cover the down payment and fund the rehab in order to minimize money out of your pocket and being able to pay the private lender off when you refinance? 

I just finished a deal with another investor who purchased a LTR in Wesley Chapel, and am working with another who is looking at the south end of the county in Parrish. 

I have been doing all my investing in the Cleveland markets for many years, 100s and 100s and 100s of deals.

By harder, I mean finding deals that actually pencil to even modest positive cash flow returns.  

We are looking to do a private money lending deal with a company out of Chicago on a SFH. 

It seems prices are relatively high in the area and that leads me to wonder if I should keep looking for a good deal locally or if it would be a better idea to invest out of state.