My dad's GF gets a phone call, she can't understand the guy and gives the phone to my dad.Hello, sir, I am happy to inform you that you have won the contest at Down Stream Casino and you have won $950,000.00!

  :)And there are companies here in Oregon and Wa that hook up with RE brokers , ( these companies are HML) they track all the sales have a very sophisticated software system. they bid for you and also provide the cash for you at sale.So it goes like this.say you want to bid on a 200k house you need 40k. you deposit that with them.they win the bid they put up the 200k .. they take a security interest on the recipt from auction.. then when trustee's deed comes they roll that into a HML.they charge a fee for the buy .. and then charge you for the HML usually 4 and 14 , and then you do the rehab and your free to use anyone to resell. 

While  in contract,  I saw a   foreclosure property in a neighborhood I want to live, great price, (Under 30) great location next to a  Golf Courses, casino and a race track but it needs work..  

But then you'd run into people who might assume you work at one of the casinos. ;-)Bottom line: make it happen!

If you have more sophisticated tenants, just demo and leave as shell since they will put the money in for TI/rents.If you need to market as coworking or suite lease, gotta finish it and probably even furnish.

QBO is more sophisticated and easier to automate but it's not free.

@Eric Lee Nation    I did ins claims in another life for 14 years - I do not recommend that EVER as someone's employment but I did learn a few things.Here's 2 things agents or no one will tell you -- your Replacement value (RV) on the house is JUICED up way higher than what's realistic -- however you have a relatively inexpensive house so it's not much of an issue - but typically the reason they juice the RV is to get your wind/hail deductible higher -- typically 1%, 2%, 3%, 5% of RV is what your wind/hail deductible will be even if you had a $1k or whatever other deductible they offer for any other peril -- so follow me for a minute - you bought a rental for $150k -- they've juiced the replacement cost to $250k the most likely loss in KS or the midwest in general is going to be wind/hail --- the math actuarial nerds do this so the casino or the ins company in this case has the upper hand -- do the math what a 2% or 3% deductible on a $250k house will be -- I have a commercial building insd for over a million -- the lowest wind/hail ded they will give me is 5% -- the only reason I have ins at this point is I'm required to -- the wind hail coverage is worthless to me with as high as the deductible is.Anyways with that out of the way - ask your agent if you have a 3% option - at that RCV cost they figured of $99k that wouldnt be much different than the $2500 all perils coverage you have now -- Also I'd wager as someone mentioned dropping the med payments to others coverage -- it probably wont make a bit of difference in your policy cost -- I could be wrong - but I'd guess $25-50 dollars a year -- your coverage is the price it is due to the perceived wind/hail risk the company is putting on KS.I'm with Big Red and have been for a # of years -- your price to insure that house is on par with what I get from them for that replacement cost -- though i think State Farms game is a bit different they really jack up the Replacement cost so I have higher wind/hail deductibles -- I'd make out good if the house burnt down or a tornado destroyed it - but for a hail claim there wouldnt be much there.

I know, it’s rude of me to do such a thing, but had no better idea what to do.Well, the thing is that the guy owes to his bank thousands of dollars as he kept depositing money to various online casinos.

You are now in business with someone who may not be as friendly or sophisticated. 

You should get one that specializes in SEC law and have them prepare a PPM for you.Reg D 506c exemptions from registering for a security only allow you to take accredited investors.Reg D 506b exemptions allow you to take sophisticated, non-accredited investors, but you are prohibited from advertising, which can mean a lot of things.