We have been offered an owner financed deal to finance a property for a rental that has a concrete block home and a mobile home.

I'll provide breakfast and a willing participant.

He is selling 3 duplexes and a modular home.

Let's just assume it's a full cosmetic flip plus some systems updates and a roof.  

However, this just makes my decisions even harder because I cannot get a good grasp on what my goals should be prior to purchasing.I can see how including many investors into the equation can make it difficult, but what if we simplified the scenario by just using 2 investors, me and a friend.  

I'm less inclined to take up wholesaling simply because it would take more time and a larger volume of deals to make it worth it. 

@Cameron York - whether a note will go into foreclosure really is a unique situation on the note and as part of due diligence you will have a good idea if it is definite foreclosure or possible foreclosure.

And, as you found out with the Lodi property, in that price range they will require some sweat equity on your part.  

As an investor, I am always on the lookout for wholesale deals and as a realtor I am always on the look out for seller leads so I decided to join biggerpockets in an effort to connect with other investors in the area.

I also have some hard money lenders available to me through personal relationships and a fairly large credit card line to finance some repairs.My step between now and #1 was buying a duplex.