I guess my main focus would be to earn capital for investing.

I guess that makes sense and I would actually use cash on hand to fix up the place (I am estimating materials at 25k) Labor costs I will be eating since I along with my father in law would be handling the fixes.

I'm attracted to NC because major universities and has a mixed economy.I guess the two main areas are Charlotte and Raleigh?

I guess they figure it is easier to get hedge funds on board and get ready of the stuff quickly....Would be nice if we could find a way to profit from all of this.

I guess its the idea of sitting on it vacant while fixing, and while trying to rent.What can I do to increase success, and minimize faillure and profit loss in order to jump into this situation.

I guess basically what I am looking to do is to buy the place outright, do the exterior repairs, and then get a check from the bank for 48k (80% value of the house) once I'm done.

What it has done, is created a hardship for honest investors like ourselves.I don't invest in New Mexico so don't know the laws and rules there, but I would ventire to guess you can do them, you just need to make sure you follow the proper protocol.Perhaps some NM investors can chime in.

He sadly has no of that and only brings hard work, a brain and the will to go through a start up with me to the table.My guess is that the weight both the expected cash flow of the business model and liquid assets you currently have (cash, stocks..etc).

Mark brings up some great tips, but I'm guessing you're already settled with the broker you've chosen.

Tim, I guess if you can get buyers to (over) pay your fee, more power to you.