Forclosure simply doesn't exists, since there was only 9 forclosure last year....A simple, basic SFR is over 2,000,000 USD and a good property in a good location is over 10,000,000 USD so It's completly out of reach for me and I'm looking at condos.For condos, the median price is 10000 CHF per square meter, to translate it's 1000 USD per sq ft and it's a median price, condos near the lake or in the city center are two or tree times more expensive.With theses prices, the 2% rules is completly impossible to obtain since the rent for a small condo of 300 sq ft is around 1500 USD (0.5%) per month and a 1000 sq ft condo is arround 4000 USD per month (0.4%).The only good thing is the interest rate who is incredibly low at 2.79% for 15 years for a fixed rate for exemple, another "strange" local particularity is that in Switzerland we don't really pay our mortages, ever : for fiscal reasons it's a lot more interesting to have a debt on our house so we pay a small interest rate and have a big tax reduction.Most of the experts agree that Geneva face a housing bubble, the problem is that 10 years ago they where saying that too and prices have rised by 100% since... and there is still a severe house shortage and very low credits costs so I don't really see how things could really change...I tried to look in other part of Switzerland, the price is lower but the rent goes down too so the ratio isn't really better...One possiblity would be to invest in France since the border is so close and the price theres are 40% lower and there is a lot of government helps for investors like 19% of your money back on a new house purchase if you keep a gov fixed (read low) rent for 9 years.What would you do in my situation ?

Or approach the owners and offer a deed in lieu.

Thx Karen and Jenn for your constructive feedback, I appreciate it.After more thought I am approaching this property with a buy as is strategy and the conversion on the exisitng Cafe into my own Laundrymat is not so much in the picture at this point.3 residentials mixed with 1 commercial unit I think is a good way to get my feet wet on the commercial side.thx again for all your feedback!

Is it a better/cleaner approach to have each partner contribute the same capital initially, but have the "money" partner loan the LLC/scorp cash to buy property interest free.

I attended my second local REIA meeting last night and was approached by a more experienced investor who indicated that she owns a house I might be interested in.

I'll probably set up a meeting this weekend sometime, and would love some advice on how to approach the situation.

In my very humble opinion, #1 sounds more personal and approachable- especially if you do the photo like you originally suggested.If I was a distressed seller, I think it would appeal to me to feel like I was going directly to a person instead of a cookie cutter home buyer.Whatever your name choice ends up being I hope it is a successful marketing campaign!

The reality is, spend a bunch of time here on BP, go to a few local Real Estate Clubs in your market, Network and approach of BP members in a PM regarding mentoring.

One way to approach the real estate tax cost (as apposed to personal property tax on furniture & equipment) is to use the approach that assessors often use when they value income producing properties.

That's not to say rents would not increase over time and viewing the asset from an income approach, but as to market, they go down.Mobiles are cheaper to get into.