there is no bank, no mortgage, and therefore no due on sale clause.if there is a mortgage in place, and you take the payments over, this is typically referred to as subject-to or sub2 and is much higher risk for everyone involved.

I am interested in jumping in, but I am not sure if I have enough money.

Is this approach appropriate? 

Purchase price: $62,000 Cash invested: $60,000 Project in progress: Off market dealPurchase: $62,000Rehab: $60,000ARV: $165,000 What made you interested in investing in this type of deal?

This project I expect to have fully complete renovation wise in 2 months and am coordinating alongside my full-time PM support. :)

I had no exposure to this group but recently heard one of their principals on this podcast.

HUD does a non interest bearing 2nd that you might want to consider doing.

I think about this often, its really just running the numbers - if you borrow 100k at an 8% interest rate, will the investment get you more than an 8% return?

Have you thought about this approach or considered a phased plan to build up your portfolio?

or get this sold or is the interest rate too hard to get past?