The State of the MarketIn this market we are faced with a veritable clearance sale on housing.

Now you still can make it work, but it will be more challenging.

i mean, if you came to me and gave me an assignment contract to buy my home, with no money down - i'd laugh in your face...but thats me.

On the other hand, it does stick that property into the face of potentially interested buyers.

you'd need the financing up front - that's not easy to do - unless through a hard-money lender and that can be challenging as well.with reo's - they usually require an earnest deposit (like 10% of purchase price).

Also, we live in a temperate climate so we face less maintenance issues than in states with seasons (e.g. we have roofing systems that easily last 30-40 years; generally no HVAC systems, heating, freezing issues, etc).

They train people to make initial contact with people facing foreclosure, collect some basic information, and submit the lead to their group.

Large scale investors (to the magnitude you speak of) are faced with the same issues you have mentioned (dings to personal DTI and credit report/scores, etc.) and often turn to private funding to avoid these concerns.

As the 4th floor is underway, certain logistical issues will be faced.

John C, alluded to accredited or otherwise screened investors.Also, if you have any plans to pool these funds, instead of using one persons funds for just one deal the rules really get challenging and the approach you use will include a Private Placement Memorandum and business plan.Good Luck... and running this by a lawyer would not be a bad idea.