The short story is that my ex-tenant owes a bunch of money and when it comes time for court, I intend to explain this to the judge and ask if I can increase what is owed.  

Although since I started at 18 I know no other life.. so its just a lifestyle I like moving money and creating opportunities for other investors.. who in turn have their own dreams and wish's and they help their communities.. the by product rehabbing shabby homes is just that... but at the end of the day most everyone is doing this for the income and the ability to pay the bills.. 

If you have the opportunity to go it may be of use to you.  

it seems like the partner with the mortgage is taking on additional risk and not allowing him/herself the opportunity to finance other deals in their name.

I used to live out of state but I moved to Memphis because of the great real estate opportunities available here.

So, you would have to intend to live in the home for one year.

page=1#p2960834I have been to a 5 or 6 of these and find them both interesting and a good networking opportunity.  

This looks like a great opportunity, best of luck on the rehab.  

I have a opportunity to buy a like condo in the same community for around $65-$70k.

@Keith Kaufman You have the right idea for rental properties. the NE and NW, in my opinion, provide the best opportunities for cash flow and appreciation.