Some need their hand held and led to a property and walked through every step, some don't.

I know I can just ask any question anytime here on BP, but I was hoping for practical hands-on experience.

If you do not want to have anything to do with tenanets you can flip or you can buy and hold with a property manager which is a hands off oppurtinity.

In my DM marketing Troi Mailing Services had a great hand; they've been of great support throughout the campaigns.

Here's what we decided to do:Initially we sent welcome letters and repeated requests for the tenants to call and got nothing back until after multiple attempts, including sending someone over to the property to hand deliver the welcome letter.

There are other strategies which require no money out of pocket but typically a beginning flipper is going to need some available money at hand to get into the game or even to put you in position to use those strategies.

Secondly, you must qualify for HAFA, as far as hardship, cash/assets on hand, etc.

On the other hand you might used this as a reason to obtain a better purchase price.

This savings could translate into a higher return on your time since if you paid back your 49,200 and only have 20k left @12% interest lets say your month cost to hold the property is not substantially less in the absence of obscene closing costs or points.Option B:This may be an investors dream cash back 45k in your hands and a property with no skin in the game "infinite return," assuming you still cash flow with 120k of leverage on the property.A tenant would be paying your mortgage, taxes, insurance, and etc while you've retained the property, received 45k non taxable proceeds from the refinance since the asset has not been sold, and potentially making some income each month if the numbers work.120k @30 year fixed 5.625% is only about 690.79 per month and taxes and insurance I'd wager (depending on state) is probably 130 more.

Should be a lot of members who you can bounce ideas off of while having a nice beverage in your hand.