After doing what you've been doing, buying real estate probably doesn't seem too risky.  

The return I go on $28k is astronomical and allowed me to buy other properties with the equity growth later.So it doesn't really matter if I make $1 million minus $28k invested ($972k) or $1 Million minus $21k invested.I know a lot of Investors here on BP seem to think that's a big deal or that I shouldn't buy for appreciation, but you can read my post.

@Chris TejirianIf the house is in preforeclosure it doesn't matter who the mortgage holder might be.

Guys, it really doesn't take much at all to stand out from the crowd.

@Drew Kessler if you pay on time the bank doesn't care about the "Due on Sale" clause.  

For your situation, hard money is fine, but I would make sure you have a contingency to complete, and own the property yourself if transitioning to him doesn't pan out.

But you definitely need to be sure you structure it all correctly so the business doesn't get pulled into other people's problems outside of the investment. 

Wondering where I'd need to be to make money on this........area is starting to turn around but at this price or even 10% less it still doesn't seem to work.  

yep, selling stocks/mutual funds to invest in RE doesn't qualify......not "like kind".

If my immediate area, 32506 in Pensacola FL, doesn't even come close to the 2% rule (rent/value) then I shouldn't be starting here, correct?