Hmmm, it would be a good idea if you found a funding partner help you get these loan or provide private money to do your deals.

I try to  stay away from the marginal lenders who do not understand the space well and so put in unfavorable conditions on the borrower to try and mitigate risk due to their lack of knowledge.  

@Angel Moreno Great idea!

My idea is to skip trace the Original owner on record and offer him a price for the deed and pay the back taxes and own it out right.

Would it be a good idea to find a mentor to walk me through every step of tHE efirst flip and then to take a percentage of the profit?

Having built equity in our previous live in flip and wanting a bigger property and home but not wanting the big mortgage so we stumbled into the idea of buying a place with a rental.

Maybe make the seller some low offers and then try your idea with the city?

All the money I get from the property goes straight back into the HELOC as I don't need the cash flow now, the idea is once it's paid off I'll have a little retirement cash flow. 

When I have an empty afternoon I often find myself taking a trip down just to walk the isles and study up on different materials, tools for more efficient working, and get design ideas. 

According to him the retail price for this property is $285,000 and so if's that remotely accurate we could make a really good option fee on this one.The challenge for us and this is where we need your ideas, is how do we market this property to the higher end tenant buyers?