I forget the numbers, but say $200 ARV, Free and Clear $25K labor and materials, JVed with Seller Performed work $25K with a mechanic's lien Had a JV agreement to buy 50% equity of house for $10 option and repairs performed Everybody happy when house sold.

Hopefully no drama, since the seller is the ex-husband, and the tenant-buyer is the ex-wife, there seems to be some potential for drama, but I would have everything spelled out in writing.Of course if she doesnt exercise her option, or fails to keep up with the terms of the lease, she would forfeit her option, and I would still own it.My problem, I dont have the funding to buy a $43k house.Any ideas?

And I wanted to keep the property, and because only 20% exercised the option back then I expected to be able to keep it.

Should of have them sign a receipt or something forfeiting deposit if they don't perform and move in as scheduled.

If voluntarily, I prefer using a performance trust deed.

It sounds like this is probably part of your problem, this realtor can sense what it is you're doing and they don't want to deal with someone who might not perform.

I know many of you are into buying delinquent and/or re-performing 2nd trust deeds but isn't that eventually going to dry up since there isn't a bank out there that's offered one since 2008?

Phase one is conducted by an engineer.The site inspection, phase one, cost reserve stable will be in the thousands to perform.

Most recently we’ve also seen a lot of outside investors move in because of how the market has been performing, especially on the multi-family side of things.

This is where you tell the seller, if the guy you find can't perform, the seller is SOL.