(Unless the person defaults and you wind up taking over their property.)+ If you establish trust with someone and build a relationship, you can wind up lending to them over and over and make more money.Cons- You need to build trust in someone and make sure they have credibility. 

I get that other forums have this feature so maybe it's just a default.  

If the seller refused to give you the lease, they are in default.If the seller is in default and you have to hire an attorney to get your EM back, you have damages.  

@Spenser Harding   as long as all states follow along with florida that its a felony to default on a sub 2 then go for it. 

It gives you all the information about section 8 and housing and how to set it uphttp://www.haphousing.org/default/index.cfm/landlo...Also, here is a link from the bigger pockets blog it talks all about section 8.  

So the house wasn't foreclosed yet, but did go into default as of July 2014, so if i'm lucky I might be able to arrange a private sell between the owners and myself before foreclosure and having to deal with auction competition / banks etc.

Are you saying that if a defaulting borrower in FL is deceased that a probate filing has to happen in order to establish an estate so that there is an entity to sue?  

Here's information regarding yours7200 Woodhaven Rd, Louisville, KY 40291(502) 276-1810 You're likely to find investors who have a fully scaled property investment company, financial advisers looking to make connections for their clients who want leverage their retirement accounts, and real estate agents who have built an investor clientele database over their career.When looking for sellers, try talking to FSBOs, people who have recently received a 'notice of default' letter, people near the end of their redemption period, and/or people who have just been divorced.

This can make a big mess legally and ethically.The assignment is easier and cleaner for the new investor.If you can bank 3 months expenses to assure the Seller he she will be paid even if the Tenant Buyer defaults, and you can get the 3 spreads (option fee, rent and back end) then by all means go ahead.

Are you using documents by default or design?