I understand the buy/rehab/resell plans and I understnd the short sale concepts and dont have any real idea about sub 2's.

I have recently become very interested in the concept of Notes.I just started studying a course in it.

Basically, you can find out about properties that are going through the foreclosure process and try to negotiate with the owners to purchase the property prior to the actual foreclosure.

or else this could get tricky.So the basic situation is this: you're going to have to pay all of the bills now (or whenever they're due), fire the property manager and sue him for breach of contract.

The basic gist is the same, but you don't pay *any* tax on the first $250K if you live in the property for 2 out of 5 years... not even capital gains.

Basically, what I gathered was that if you move into an abandoned or unoccupied preoperty and pay preoperty taxes on it for a given period of time, you can sue for title in state court and win the property?

(A lot of "I wish I were your age when I started") Basically having the orientation be free, I felt it was worth an hour of a half of my time if not just for the information, than think of it as being an opportunity to meet with brokers, agents, and fellow investors for insight and additional info.

If you are looking to wholesale this, basically you need an inspector and/or you need to learn what to look for.

you need to submit a request to the condo association so they can approve it. maybe this is basic knowledge but for me, being a total newb, i had no clue!

This concept would be ok if you had access to real private money or had the knowledge to set up such a program as the traditional hard money lenders this would be too commercial in their requirements for this to work.