Now is the time to establish a relationship with a title company. 3) How long has he had control over it and why hasn't it sold yet?

I will be venturing out to buy and hold soon.

Lease to own is an excellent way to get control of the property.

As to other ventures in connection with RE, steel fabrication business, car lots, grocery store, auto service garage, construction firm/general contractor, C-store/car wash and a bar, cafe, lake resort.These came arising from basically partnering as a credit or business partner (or both) for under capitalized entrepreneurs who couldn't swing the RE purchase or lease of facilities.

They will if you look the other way.The above allows me to control the materials going in to my project, and allows me to eliminate a bad contractor or subcontractor without missing a beat. 

Remember you don't have to own a property to control it.

One of my favorite but not well known REAL ESTATE INVESTING creative financing strategies is "joint venture with the seller on a minor rehab"Most wholesaling deals are really needing a lot of work and they're totally neglectedIf you have an ARV of hundred thousand and it needs 70,000 work to get to the hundred, you're not going to pay more than 5,000 to 10,000 for itWhat if you need a minor rehab that needs updating only, like paint,  carpet, new kitchen?

You may find later on that assigning contracts as a business venture can be different in the eyes of regulators and others involved in RE than an individual who just assigned a sales contract.

. * Buy a VALUE-ADD multifamily asset (40 units +), using cash (private capital) or control the site using short term land contract.

It provides me more control (but thats personal preference).