I can do it by hand, but it takes loooong...Spreadsheet or Web-based application would be ideal 8) Thanks in advance!

I understand I would also have to factor in a management company if I invest far away.

Ideally, you would have made a provision for, and postponed closing until the property was vacated.

If you have money invested yourself (very likely), you'll need to factor the opportunity costs of that money out of the returns.

Around here, we don't have many beaches, so that's not a factor.

Dick and Jane don't understand RE or the process, so the Realtor has to lead them step-by-step through the process.A big factor in the process is figuring out exactly what Dick and Jane want and what they can afford, then showing them their "perfect dream home."

The Payor is a large factor in the note's value.Anyways, we also need to know:* What's the interest rate on the note* How many payments have been made and if they have been on time.* How many payments remain (seasoning)* Is it currently deliquent and how much.* Are there any other senior encumberences against the property (is this a 1st or 2nd position note and are there taxes due.)* How much value is in the collateral which you've stated is around 40-50k after repairs.* What is the general credit worthiness of the payor?

Ideally, I'm looking for someone that got into it, and found something they didnt see before that made them not want to be a part of it.

Ideally, that's how I want to get started in real estate investing.

You would then have a $7,000 spread you can work with and possibly make.As far as choosing between rehabbing and wholesaleing it all depends on your risk factor.