Depending on the state and chapter of bankruptcy (7 or 13) the payments might have had to go straight to the Mortgagee or through the BK trustee.

Still very easy to see where this will be profitable, then the additional units will drop right straight to the bottom line..But...

If you don't have answers to these questions you may find yourself giving the property back to the owner in 2 years and all that negative cash flow will go straight to the owners pocket.Based on what you have stated so far I would not do this deal.

You will get straight facts at a very reasonable cost.One side benefit of being licensed is getting a split on listed properties if you represent yourself as a buyer.

I prefer a straight loan with a deed of trust (or mortgage) on the property.

You can not control what the number is, but commentary around reality will help move things forward.I think the conclusion with some of the new details are pretty straight forward.

This may be an issue under securities laws in brokering contracts as you are not selling a property but a financial purchase agreement, much like brokering commercial paper or receivables.It could easily look like a real mess full of pitfalls as RE agency relationships and business is not designed to support the concept of wholesaling with non-owners, you'll need to weave services allowed into their investing model.There is so much business out there to do straight up deals by agents who are willing to work and learn than to spin their wheels trying to devise some off shoot model, getting creative which requires more expertise and knowledge than staying on the normal and accepted course of business.

The timbers are old growth straight grain, floors are the same.

Some project do, some don't.Other options might be straight seller financing, if its owned free and clear.

My name is Tyler and I was born and raised in Destin, FL.I skipped college and went straight into the family business which is in the moving and storage industry.