I was thinking along similar lines.

Are there a lot of similar rentals in the area?

So it's been almost 2 years since I last posted and I thought I would give an update on my situation for others who might be in a similar situation.

The lending's going to be similar to hard money.

This is similar to the payment function, but starts with a interest rate, term, and payment and computes the corresponding loan amount.You don't really need to do this in the field, as there really aren't that many variables.

It is similar to hard money in that the cost to get the money is not cheap.

As for discount notes, the process is very similar it also involves double closing but it is more flexible a lot of times than wholesale.

Property values in the area run from $3k to a high of $30k for similar properties.I'm curious if anyone has ever had a home built in a very old section of town, most homes are 100 or so years old, as is this one.

But do you really want a name that's so similar to another?

I've been involved with a deal similar to what Richard describes.