Yeah I bet he is!

I'm pretty handy but have never done one before so getting one as close to the same size will probably be my best bet....

I'll definitely will keep everybody informed on my progress.

@Will Wu - I may have admonished you prior for hitting her hard, however you are now "in play" on this deal until either: 1) the property changes hands with another buyer, 2) seller informs you that your offer is not accepted 3) you decide to walk.This being said, you're just frustrated because this is not progressing along your choice of a timeline.

I would love to just buy 2-4unit properties with the money as down payments but i don't want to lock up his cash for the next 30 years which would require a cash out REFI and thats betting that enough renovations have been done to provide the money, i estimate on a 150k property it would take me about 10 years to pay him back his. 20% down payment at 10% interest (this being done using my cash flow ) this situation doesn't seem ideal to me...

My first vc meeting last year with the founder of a multi billion dollar fund said, "I have no idea even how to approach due diligence on this, the best thing may be is to bet on a couple horses and see who wins.". 

Hey everyone, Thanks to encouragement from @Karen Margrave and several others, we've decided to add a new forum to BiggerPockets, Investor Deal Diaries. Use that forum to share step by step diaries of what you current...

Some will start to support you once they see you've made progress.

It is still a work in progress, but we are trying to make sure they are focused in the right direction.

Any progress.