I'm personally looking to build capital and net worth initially, so I'd sell and use the equity towards a loan of some sort.

But if the buyer backs out, and I have to close, I better be OK taking the thing through foreclosure and owning it.Of the notes I purchased, I probably flipped 70%, took title to the property on 20% and did some sort of workout with the borrower on 10%.It's definitely trickier than straight real estate investing, but there can be nice profits.

If you become the go-to for a particular niche in a given region, you'll see all sorts of deals that other folks might not.

I paid my first house off and will NEVER...EVER take out any sort of loan against it.Agreeing with what @Tim Hoffman said, knowing that you always have that one place that nobody (almost nobody) can take away from you lets you sleep at night much better.

What sort of numbers are you seeing in the western burbs for property prices and monthly rentals?

Hello BP community.In case the above images aren't clear, here is a direct link to the SEC Image Docs I posted.http://www.sec.gov/investor/alerts/ib_accreditedinvestors.pdf

College girls tend to treat properties nicer than guys, but I agree I would need to factor in some sort of "rainy day" expense.I doubt I could get more than $3,000/mo.

Some banks have construction loans for just this sort of thing.

What sort of contract would this take the form of, and is there a name for a peer-to-peer agreement contract, or something similar?

What sort of accommodations might I expect a blind tenant to request?