There would need to be substantial equity in the home for this method to work as you will only be able to refi at 70%-75% LTV so the home better be worth around say $175k. 

With that being said if you get lucky you can hut the ball farther out of the park with this method, on a ROI basis, then any straight RE play.I am not sure if this helps you, but hopefully it gives you another perspective on your potential deal.Good luck,Arlen

Calling code enforcement because you do not like his screening methods isn't very nice.You mentioned he likes money so I don't see why he would sell. 30,000 today is better then $400 a month right.

I do know investors that use this method.  

That is a slow route but if done correctly you don't need your own additional cash for every deal.Two other possible funding sources are a business line of credit (once you've built your business and develop a relationship with a lender), or find a private lender to provide acquisition funds.In sum, I don't see a method of obtaining a conventional mortgage on investment properties in need of rehab.There's a networking group meeting tonight so maybe someone there knows the solution....Best of luck. 

Can someone share some advice on whst marketing methods I should use.Thanks, Lawrence

I've never invested in property before, would this be a prudent method to ensure an income an a place to live with little initial effort.Thanks,Tony

This method is really great fun as you can always discount the note in the future, or renegotiate if the market shifts. 

We started out with the baby step method.

But, that said, one method I've used to drive traffic to my site is to share links to my posts on various linkedin forums.