Could be this is very expensive or just plain can't be done.You'll also have to consider access, if just subdividing it results in land locked lots at the back.

Do you think the bank REO departments that were so hard to get in touch with may be a little more accessable?

Jeff,To expand on what John said ... all six are the right answer.Just depends on what the question (read the deal) is.But be prepared to switch from one to another i.e. multiple exit plans.Question #1 ... private investors (aka silent partners or HMLs) ... no, not that hard.

Chances are if someone is buying this rehab there inspector will find this, most people will insist this be fixed before they'll buy it and getting someone to fix a now chemical and sewage disaster it will cost double plus you may do finish work over the access point for the plumbing and that will have to be re fixed on top of a mess in your finished house.

If you do pay down the loan each month the equity is largely trapped so not easy to access if you really need it.John Corey

Just to verify, though, it's my understanding that the group of investors you have developed relationships with already have established access to their own cash or financing.

This allows the city to access underground utilities, provide for parking, sidewalks, landscaping etc.

I have been looking for local deals but to get any cash flow it requires 20-30% down.( I don't think I know where to look) as we are brokers we have MLS access, Loopnet as well as local comm. brokers, just like everyone else.

You have more control and access, and it gives you the opportunity to see all of the potential and actual issues from the inside-out.I'm glad you're excited to be here and I hope you retain your excitement and stick around for a while.BTW - Where in NH are you living?

I am hopeful that this thread will be both interesting and that it will have lasting value.Like I said, I will attach a REAP example when I can get access to the other computer...