Your personal guarantee of that debt instrument in a transaction where the IRA has involvement would be very risky.Our firm's approach to such JV transactions is one of caution.  

Both properties were the result of direct mail campaigns, so this approach definitely works for small multifamily.Go to Listsource.com or another list vendor and build your list with your desired property criteria, then either do your own letters, or use a site like yellowletters.com to handle your mail campaigns.

I figured if it cost me a day and 200 bucks and I was making 5k commish.. it would be a fun day.. and clients were impressed to beat the band that I would do that.although careful with this approach..

That sort of implies a one size fits all loans approach to disposition and nothing could be further from the truth.  

Is there a common approach to 

I am unfamiliar with this approach and its benefits/drawbacks.Thanks very much

I am a disabled Army Veteran and see how if I can learn this and provide a step by step approach in success I can see sharing this within my Veteran community.

Have any of you owned an older commercial property and been approached by a developer looking to purchase it for re-development?  

It's also a more predatory approach if all you can do is make your money by taking equity out of a seller's pocket.Profits come from adding value over what you paid.

Pros = 1) Rented on one side for 15 years, the other for 2 years 2) Zillow is telling me that its worth $52,0003) There is nothing rented for under $400 on Craigslist in that area.4) I have it under contract for $20,0005) I have had an agent/property manager tell me it is worth 65K not to buy if for more then 50K he also has properties in that area. he thinks it should rent for $350 to $375.7) A property manager went there and told me its not in a war zone,but its a 6 with 10 being the worst.8) A second agent gave me an income approach and told me if I wanted to sell it I could get about $40,000Cons= 1) 3rd agent went there and he told me that the area is too rough for him and wont touch it, but has friends that will go in that area.2) I am unable to pull comps- I have used things like myfirstamerican, Eppraisal, Chase estimator, and not getting anything, this is also why I have contacted a lot of agents to give me some feed back. 3) I live in California and will have to find a support team there.