For arguments sake we'll say we can't get private money without the lender having some sort of say.

Plus it seems like the cheaper the cost, the more risk and cost of repair.What sort of initial capital would I need to even start investing?

Checked out your link and I would have to assume it is some sort of typo.

That is sort of the opposite of buying a primary residence.

What sort of help are you and her looking for?

I sort of fell into real estate when I bought my first house in 2005 at 22 in Baltimore, moved 2 years later down here to NOVA and then realized I hated renting and bought a 2nd house down here.

Absolutely irrelevant for any sort of investment purposes.Second you need to figure out if anyone will buy it from you.

I wouldn't hope on any sort of grand transformation in the near future.

There are all sorts of profit centers in the private lending business such that 12% is actually on the low-end.

But you need some sort of fundamental understanding of construction and contracting.