Many of the real estate professionals that i'm talking to have never heard of double closings etc..or never done them.Any recommendations anyone?

This one will be a buy and hold in Memphis, TN.Numbers look like this:Purchase price $122kConventional 20% down and financing 80%MAIN HOME: 4 Bedrooms, 3 Full Baths, Living Rm, Dining Rm, Hardwood Floors (Currently rented for $ 1,300 per month - Current tenant for nearly 2 years)Updated Electrical WiringNew Heat and Air ConditioningNew Exterior Paint New Interior Paint Refinished Hardwood Floors Remodeled Master Bathroom (12" Tile)New flooring in kitchen and diningNew Light Fixtures throughoutNew Doorknobs throughoutNew Blinds throughout Large Updated KitchenAPARTMENT 1: 2 Bedrooms, 1 Bath, Full Eat-in Kitchen, Large Living Room (Currently Rented at discount for $ 725 per month to same tenant in 1 Bed Apt (Typically rents $ 785/ mo).

And I really hope somebody can advise me what to do here.Yesterday, I was interested with a 2-bed room condo, and I called the listing agent to see if I can take a look at the property.

The park manager called me to let me know the finance company was interested in selling the 2-year old 3 bedroom 2 bath home.

As I am reading and researching I need a sellers contract to obtain the property, then depending on an assignment or double close I will need the appropriate paper work.

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I didn't count with this kind of appreciation, it actually went up so fast many talk about been a mini bubble, I guess the question is. is it better to take my good fortunate and run with it, or to keep a small monthly cash flow and weather whatever the market may or may not bring, having in mind it would take at least 10 years to make the same profit off cash flow.

I am now looking into buying foreclosed double wide 3/2 Mobile homes and placing them on lots.

Then is marketing the property to a buyer, flips(assigns or double close) the contract to the end buyer and collects the spread in between.

Hi Gerald, I've always liked mid-sized midwestern/southern college towns that double as state capitals.