Of course if you use turnkey your return is lower but you get basically a brand new house and spend less time.

Basically, just think of the seller as the mortgage company.

If you have a cheap rental and want a basic kit, you can get similar closet kits from Walmart.com (ship to store for pickup). 

I am on my third personal residence and I basically moved up by buying the first two cheap and improvising them and selling for profit.

Paid cash, house was occupied and to make a long story short, After one whole year and many court visits we finally agreed on them moving out by mid August. 

If you rent for more than $750 cash flow is higher. 28 houses paid for with a minimum rent of $750 & netting $500 is $14,000 a month.You're basically creating your own closed end fund that all of the Wall Street funds use to buy so many houses with their investor's money. 

If you go for apartments, that's a way to make cash flow here.You basically need to find someone that is familiar with the booming markets and cities here, find someone that you can trust your investment.Nick

I’m basically trying to find out if there is a cheaper version of a hard money loan, which in this example would cost me $8500 ($3500 at closing plus $5000 of interest assuming I refi out after 6 months).  

NO Booze  just coffee and soft drinks but of course designer coffee we are in the Pac NW after all.it was a HUGE turn out over flowed the office LOL.but I did do it with another person.. he helped cordinate etc.. and I invited a few people that he thought were direct competitors of his and the next day this kid calls me and basically chews me out.. .. that was the end of that relationship and the last time i go to any meet up other than if I am invited to speak as a guest speaker..

Basically you have to convince the municipality that they are  better off by accepting less money for the property than what is owed.