I will also be a nice guy and get enough of a down payment out of him to cover the cost of the credit repair that I will perform for him so that he can cash me out early, once his repairs are complete.  

Come to one of the meet ups at The Ram in Lakewood, you will meet a few people doing a wide arrange of RE investing (Wholesalers, Developers, Remodelers, RE/Insurance/Mortgage Agents, Home Inspectors, General Contractors and those who are brand new finding their way).

If you manage your own properties, perform repairs, etc this is sometimes the case.

Currently most interested in hard money lending and non-performing notes.  

Your IRA can lend it to other investors, it can partner with other investors, it can buy notes that are performing or non-performing.

Just keep in mind that looking at the real estate cycle is entirely focused on past performance.

Even if there might be a loophole, I'd sue for performance and attach a lis pendens to the title.  

If the house has equity, why not try to take out a HELOC and perform some of the repairs while the renter is still there?

http://www.marcusmillichap.com/Email/news/2016_05-...Emerging supply and demand trends for residential and commercial real estateHow brick and mortar retail is performing in light of rapid rise in e-commerceWhat investor sentiment says about the future of real estate markets

Performing or non performing?