I figure a nice public declaration here is a nice spot.

If they make every payment on time for a year or two, your investor friend can hold the note for a nice investment over time.I do think that giving them 80% of the payments towards equity is too much, he should consider much less.Tenants should be easy to find via newspaper ads with a prerecorded message to screen out interested people.

At this point get a nice rehab team together and get the job done before the first payment hits and retail the property.

Hello there T.Watson-Nice to have you aboard and I do hope that you have fun browsing through all of our forums!

Thanks,Nice day in the AK

Here's the basics on the house:--4000 SQFT (including 1000 SQFT finished basement--6yr old central unit and unknown age second unit--excellent foundation with no to very minimal settling--split level with large bedrooms and large bathrooms--1.5 acres lot in a good neighborhood with a few million dollar homes a couple of streets over--nice but neglected landscaping--built in late '70sFannie Mae wants $179k but it needs everything on the inside.

Nice to be here.

To do this profitably I need to come to market with a nice property that is competing with great prices and inventory.

Nice part of town.Originally posted by "Brokerca":Thanks for the welcome.I am involved with the high end homes of West Los Angeles.

Thank you for your time and have a nice biggerpockets day!!