My son graduated college 2 years ago, just closed on a special FHA in Virginia called VHDA, where he actually came to closing with $11.

Or what do you see as something that could potentially be a special niche for real estate investors in the future?

When the going gets tough your friend will want a say in how to manage the property and it is when things go wrong the friendship is strained.

Never make a lower offer or one with special provisions by phone or email to let a Realtor "run it by".

You also may have a tough time getting a tip top rate, as there are pricing hits on smaller loans as well.

If the property is free of encumbrances a warranty deed should be used, if not, a special warranty deed subject to the encumbrance.

I am comfortable with tough neighborhoods as well but the areas you would need to deal with to cash flow with $80k in seed money in Oakland, Vallejo and Richmond are not areas with any turnaround potential.

Think of the land trust saying yes, I own the property but it is "In care of: John Doe""Illinois Land TrustIn Illinois, and in five other states, legislation has been enacted that creates a special type of trust, commonly referred to as an "Illinois Land Trust".

It's tough to tell from 1 picture, but it looks like it needs way more than 96k in rehab.

3 Family Dwelling is in between a homeowners policy and a commercial property policy, what you need is called a 'Dwelling Policy' the problem with a dwelling policy is that most carriers that write dwelling policies would want to have your primary policy such as either your homeowners or personal auto policy.Evergreen Insurance & Risk Management specializes in insuring commercial real estate and they can write a 3 family dwelling without the primary.