The taxes and insurance (homeowner's policy) are in the buyer's name, paid for by me (additionally insured) as part of their monthly payments.If the property needs work, or upcoming repairs (new roof, windows, etc) I include these improvements within the contract with a penalty cost if not performed by agreed date.

Although, ironically, our 'bad neighborhood' purchase has performed well.

Depending on where exactly the property is will determine what type of tenant you will have which will dictate how it performs in the long run.  

ok, here goes. you have no cash reserves. you need to boost your cash reserves. you need to do a couple of quick flips to put some cash in your pockets. with little money to work with, you need to buy as cheap as you can, and sell for profit. tax foreclosure sales are best. sometimes you can pick these places up for next to nothing. do your home work, though. make sure you can make money on it. i have bought some for as little as $200. then you quick flip it for say $5000. you make money, the buyer gets a good deal, everyone walks away happy and you are building your cash reserves

So you can assign or resell (sublet with the lease and re-option with the option) either of them.Therefore, you have multiple ways to structure this depending on how long you want to be involved and how much associated risk you are willing to take.With the lease, you can assign it for a fee and be done or you can sublet it where you are still on the hook for the terms of the lease, but can receive the difference in rents for the entire term.With the option, you can sell (assign) the option and be done or you can option your option understanding that performance will require a double close.  

And finding a broker to sponsor, some have performance quotas and can release u if you dont produce. 

Then perform....

Some perform well and some do not.

Hi Paul - Is this note performing or non-performing? 

Perform you due diligence in the 3 days before you give them the EMD.3.