They are asking 299,900 Land locked, no room for expansion.Total Income     22,187Insurance              189Liability Ins.           767Interest Expense   174Loan Interest     10534Labor                  6400Repairs                 646Supplies                90Taxes                 2532  (Not sure what value amount this is on)Telephone            841Utilities (G & E)     802******I talked to commercial lender today and he said they require 30% down, financed commercially at possible 5.3 to 5.6% + for 15 or 20 years.  

If the note is for 100% purchase plus rehab and then we do an after repair appraisal, is that something worth doing/possible?

Understanding what real estate is, how it is valued, the theory of real estate ownership, and real estate law, will allow you to see each possible purchase with a clarity most amateur investors never experience.2.

I've met with a local investor and he's offered to cut me in on profits or pay me a finder's fee if I can bring him possible properties to flip.

My question is what would be the best way to approach him about this possibility?

I am an older newbie looking at possibilities.  

The best advice I have ever received from a RE lawyer was to try to limit contact as much as possible with a tenant you are evicting.

I'm sure the answer to this is obvious to most, however, not having any prior experience with HML's I'm trying to prepare myself in the best way possible :) Thanks!

As investors we're always trying to get properties for as low as possible.  

While it's possible that you have different standards for yourself, do you think it any less safe an area?