We're still going to move forward with the deal but we have no issues walking away if the numbers do not work in our favor.We're trying to make this a win/win situation.

I do a JV with the OwnersI buy sub2, fix it, resell it with the agent, on the jv agreement I tell the sellers-heirs I will pass some of profit to them.Everybody wins.

@Stephen Moore how much cash would you start w/ in this hypothetical situation?

As always, most of the work is on the front end prior to purchase and you'll only win 3 or 4 out of 100 - if you're doing it right. :)If you need some guidance or assistance with fix & flip and/or buying at auction, feel free to reach out. 

I think UVA has the best chance in history to win the tournament this year!

Ive used hard money and conventional financing in the past; however this one has numbers that wont work for those and was wondering if there was an option to create a win-win for everyone.The home is currently valued at $70k conservatively and is in clean condition (just an older roof). 

, I'm looking forward to come across some people with similar situations so I can also help and at the same time reap the rewards of real estate.You know, I've question myself if I would get into a deal like yours in regards of minimum cash flow but as your experience tells it is a win win as after a while your already cash flow better and have the equity if you were to sell, you are teaching me that patience is an important key, Thank you Jerry!  

If there were tenants in place, you would instantly have some incoming cash from rent payments.

Why would you think someone could take the time and energy to "in an instant" teach you or convey the amount of knowledge this would take to pull off???

He also makes money when I buy his stuff, so it's a win win for both sides.