That said, their program is worthless IMO. 

The issue is one of governance--if there are particular decisions that have to be made with the asset, what voice do you have in the process?  

That impression could be very expensive, time consuming and hard to defend against if a family member or government agency objects later on.  

I'm currently looking at a coaching program to get trained and educated, and would be interested to hear about your situation and approach.

As for the various "guru's programs" out there, there is a lot of good information, but you have to keep in mind that it is still going to take work!!

They do 5 and 10 yr balloons - 10 years is nice to extend.But here's the turnoffs to both their programs.1) Rates are high - 6.5% to 7% (firstkey lets you pay 3 points to buy down rate to 6.25% or something like that which seems really price).2) Entity creation is required.  

It looks like they would qualify for the first time homeowners programs in NJ.http://www.njhousing.gov/dca/hmfa/homeownership/buyers/faqs/

Mortgage brokers can't set up the mortgage and then sell the note to the government.  

I'm interested in the Vacant to Value program. 

If you do business with them you wont have to worry about what neighborhoods to stay a way from as if your investment performs poorly they will make sure you are successful with all the guarantees and promises needed in order to make a low quality property perform like a good one.I have copied the link here where you can see that the lifetime guarantee is part of their program.