Do you have an idea of how much money you're looking to spend on/invest in a property?

Hey Isadore, Send the tenant a notice of non-payment and have the tenant go down to their local public housing authority office, HRA, or Department of Social Service office and provide them with the notice.

There were great suggestions, ideas etc.  

And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin. 

After the potential plaintiffs leave his office, the attorney does further research.  

From there, I try to figure out why this house isn't selling, and if I'm still interested I'll make an offer at a price that works at my numbers.Other than that, yes I think it is a great idea to dig deeper into more creative methods of finding deals - wholesalers, direct mail, door knocking, networking, etc.

I can't help on the mastermind front, but I did grow up in Central IL and can relate to the "something goes wrong with a property, now I'm spiraling, and this was all a terrible idea" feeling.

Get an estimate from a GC to get a good idea of what is required.Market Comparables: Check what similar-sized homes with finished basements or additional bedrooms are appraising for in your area.

It's really important that you work with an experienced loan officer or broker, especially on a time sensitive purchase transaction.

Luckily I am not easily sold on any ideas without some data to back the ideas.