And Wendell to answer your question, residential just seems easier to get into, unless one of my mentors like one of the deals I can find for them and somehow structure the deals where i can become an equity partner in the property for my construction services...Carolina, the new mall is off of Balmoral ave, right across the street from the rose not convention center.

If I can find a partner to sign for the mortgage she will sell for 25K.The Deal:2 bedroom 1 bath SFHAssessed in 2013 at 51KRents in the area average $750-$850 for a 2/1Taxes - $1900No structural or mechanical issuesNeeds carpet and maybe paint.

Accredited investors are or should be required, few small offices can accomplish that now and the structure needs to be compliant.Where brokers or even partners get in trouble is assigning collateral to a group to secure the funds, someone will be last to recover thier money and if there are insufficient funds, they or someone will lose.As a broker, you really need to be in a position to take any investor out of a deal, you also need to be able to take out the small investors who lack experience as they yell the loudest and it makes an attorney fight harder for the one at a disadvantage.

I asked him what it was like to have to put his shoes on to walk from the bed to the bathroom.

Owner finance (similar to contract for deed if that is legal in your state) is a good way to get out of your situation, with the possibility of making some money on the deal.Ask for at least 10% down and figure out what interest rate you would like to charge (depends upon their credit, I suggest nothing less than 8% even with impeccable credit.)You can use a mortgage loan calculator online to get the amortization table, and there are companies out there that will 3rd party service the loan and report to the credit bureaus for you.I suggest finding a real estate attorney in your area that has done these to structure it correctly for you.

Is there a way to structure this as a repair escrow instead?

I have no worries about them walking away because I'm sure they won't and secondly if I have the deal structured right I will retain the title until it's paid in full.I don't live there now, but I do live close by since I bought another place with cash during the downturn.My lawyer (who I spoke to only briefly) did mention Contract for deed and due on sale, which I was already aware of, which is why I want to structure it so I can keep making the payments on the BOA mortgage and not have to pay it in full because right now I can't afford to pay off the ~75k we still owe.I will look up sub-to(2) and do some more reading about wrap, which didn't seem to be exactly what I was thinking.Thanks again.Scott

Sold comps on a 2/2 in the same complex from August of 2012 (ugh) sold at $115K which would make the target property around $108 a sq ft (but it has only one bath and I don't know how to account for that in the comp - what is the "value" of a bathroom).I've stayed away from really looking at condos because of the HOA/condo fee involved and being subjected to the whims of the condo association, but I don't know if I should do that or not -- am I blowing opportunities by doing that.

I'm looking forward to seeing what information I can find here to help make this a good success.Another thing I'm curious about is how to structure my assets now.

Any thoughts/recommendations as to how I might structure my assets to get the most benefit and help keep everything straight?