But, I jump ahead of myself.We are well-positioned financially.

Number wise everything works out, the property should produce a small positive cash flow but what I'd be banking on is the appreciation of the land being in close proximity to Biloxi.

i was depending on this money from pinnacles when i lost my job. i invested $85K and never took out my returns. my total investment was $177k. my one acct was closed in 10/10, the other two accts in 11/13/06. i believe i would have gotten my money and i would not been placed on this position if it was not for government regulatories. if they still have a caring heart hope they speed up the process and pay us back on time. because we got use to get paid on time so we can pay our bills and not losing our homes that we worked hard for.

A lot of people use them interchangeably.I typically think of "rehabbing" as longer term more substantial improvements whereas "flipping" would be more cosmetic and focused on a quicker turn around.But that's more for positioning in my own mind.

-has a positive cash flow-is rented at below market rent -has a cap rate greater than 10%-relatively good shape -Occupancy is above 90%-Price/unit is below $30,000...would you buy it if you had the funds/financing to do so?

I have several investors who have been in this position and they have focused on buying a rehab and when all of the rehab is completed, they have it appraised and refinanced to help them pull out some more cash towards their next purchase.

Are you in a position to pay finder fees on Vegas Mortgage/Real Estate referrals?

I am in a unique position.

Though both properties generate positive cash flow (barely) with only 5% down, I paid market value both times and dont want to do that again.

I have been talking with a person that buys notes (non-performing 1st position) and he mentioned a term that I had never heard.