My exit strategy for this one would be to take it over with the very attractive interest rate, inform the Dreadlock hippy Heloc guys that I'm buying the house with 'some owner financing' put a few bucks into it to make it 'visibly' attractive to a home buyer that wants a 'fixer upper' and collect my money put into it from the L/O and set it up to cash me out with a refinance within 12 months.

As a CPA and a broker in AZ & CA and seasoned investor, flipper, etc. for the last 20 years in these states and others my personal opinion is that while the entry price point can seem attractive, I agree with many others on this thread...

Most Meetup are announced and bombed with a lot of keywords to attract as many views as possible.

While it's obviously a cheap house, the immediate neighborhood is quiet and mostly O/O and attracts lower-income but stable folks.My initial guess is that the fixed costs involved in order to achieve compliance (licensed mortgage originator/servicer, etc) would be fairly significant compared to the money in the deal?

If NYC wasn't such a good investment on a long term basis why would it be attracting so much investment from people around the world? 

(Check out the podcasts that talk about attracting investors or getting financing.)

I price low, to attract multiple bidders and if the highest price has no earnest money, I'll probably sell to the next person.The earnest money serves a practical purpose of compensating the seller for lost time and marketing ability if the buyer bails out because the buyer found a more attractive property.

I'm going to use this to take advantage and save up some money which I will probably use to pay down the current balance to be able to re-finance if thats still an attractive option at the time.

Seeing as we are looking at filling so many lots that is most attractive to us.

@Sudheer Bobba If you want to title the loan directly to LLC, your options are a residential portfolio (30 yr fixed) or a commercial loan (5-7 yr ARM or balloon).Rates/points in both cash are not as attractive as Fannie/Freddie.