An alternate option to also consider would be taking the money and using it be a private lender on a deal with an experienced investor. 

You'll need to hire a private investigator that can locate him, and then serve him. 

"Why is owner selling" is always my first questions when I buy a used car from a private party -- makes sense that it should be the first question for an investment property too. 

& @Nicole Heasley, FACo is a very large private institutional lender.

You'd find that in a private money loan and there are low interest-rate loans right now, even on the private money side, at least in CA. 

@Melanie HeigesOkay. that makes sense.You have a few choices for flips:your own cash, or cash pooled with other investors.hard money or similar private lenders.You don't typically get a traditional bank loan for flips due to the condition.So, you would either get hard money loans that will lend for distressed properties or use you own cash.Hard money lenders base their lending on the project, not on your personal finances.

Cost to you = whatever you have to spend (out of pocket)...and NOT what you don't have to pay for. 

If you don't know what a unit will rent for, you have no idea what you can pay for it and cash flow.I'll leave it at that, but stay focused, be willing to spend some time and be patient, and you should be able to have success here. 

How many hours per week or month do you spend on managing your Airbnb? 

Thank you Regards Louis Tags: port st Lucie, Stuart, fort pierce, Jupiter, vero Beach, hard money, private lender, private money, mortgage broker