I would love to try to control it if there is a possibility of making money.

You can buy the 2rd but still not have control of the property or be able to buy out the first morgage with enough equity to make a profit.

I'm interested in turn key properties and not fixer uppers (painting and carpet is fine, and minor repairs I can deal with) no major fixes though.My goal would be to acquire control of properties and rent these properties and produce an income after my expenses.This would be the price area:$50,000 per home single fam. residential 2-3 Bed bungalo, rent for $700-850/month.

I get paid for what I'm worth, and I control my path to greatness..

Scott,The issue is not fear, the issue is control.

Report them to the city--what ever your animal control agency is.

The spotter is both able to be compensated based on the deal going forward (skin in the game) while at the same time the investor has control of the negotiations and the deal mechanics.Note that user English case law (used in 49 states) there is the principal that is something walks like a duck, talks like a duck it is a duck.

This is the guideline I use to assist my clients in determining NOI: Vacancy Factor (5%)Offsite Management Advertising Administrative (G&A) Insurance Legal and Professional On-site Management Interior Cleaning and Maintenance General Repairs and Maintenance Exterior Cleaning and Maintainance (gardening, pool, pest control, etc.)

Real estate is a long term game and you haven't "lost" 89k...you only win or lose when you decide to sell which, thanks to a lack of price controls imposed by the government, is any time you'd like!

Every deal is different...I have had a pretty bad one myself.I will stick with landlording, light rehabs and a few REITs to keep my RE invesment portfolio empire going...I enjoy collecting checks every month and being in complete control of all my property without question from any "partners".