You may be able to buy the property in a land trust also, but you would need to talk to someone more experienced in land trusts to find out if that is a possibility.

Why don't you reverse engineer your activity and find additional services that you receive fees for.Step back and think of all the services that people with a house once owned by a family member needs.

We experienced this first hand from our buyer pool and sellers wanting to list their properties high.Price drops out weigh price increases these days BUT we are in the holiday season so first 2 weeks in Jan I think will answer a lot of these market questions ESPECIALLY after Jan 10 when further mortgage restrictions kick in.

But, you could have 10/12K in up front expenses in a commercial loan with an appraisal, engineering report, inspections and compliance, attorney fees and bond underwriting fees in an SBA.Call closing companies to see if a lender is known, run a check on a lender with the Sec. of State and see if they are in good standing.

Planning to have an engineer and HVAC inspect if offer is accepted.

He's in trouble and I've already helped him in several instances like paying ahead of the draw and letting him use materials from other jobs instead of the ones specified in the scope of work.Can any experienced rehabbers offer any advice?

I assume good if an experienced investor is using them...

I am 24, my credit has been totally shot from school loans and credit cards the amount isn't high but many deragatory accounts. i currently have 40k in the bank and want to buy a duplex. i'm assuming it would have to be owner occupant because i don't have another house to live in. my credit is now up to 633 and i've been working on it. the score for becaon score is 670. what do u thik the best route to becoming a landlord could be. i just need experienced oppinions because i'm afaid and lost.

@Kevin Seith Tear downs are more costly as mentioned by @John Moore there are usually additional costs for permits and engineering and you can't forget having to comply with all the current zoning rules like setbacks, off street parking, sprinkler systems, fire separation, density, lot coverage, and impervious surfaces.

All good advice ...but keeping the course material on point to add value to your level of expertise in the REI realm will be an interesting exercise.During my Engineering studies we had to take 2 years of a Finance elective (after the required micro/macro econ., ordeal).But the Business/Financial faculty had little to offer other than pure theory so I approached a visiting prof in the Ag Science faculty.