My rent basically covers his taxes and insurance plus a little, so still don't know if he has paid it off.This summer, I made an agreement (over txt, almost as bad as handshake) with him to pay 1/2 rent each month until I could repay the back rent in full, all at once.

I only rent section 8 when it makes a lot of sense, basically I need to be able to net $300 + more dollars a month over a normal tenant.

If they were, it would be a rather small task to program that computer or train those "minimum wage people" to set off warning bells anytime the payer on a mortgage account didn't match the original name on the loan.

Basically, the owner will sign the deed over to the land trust, and you will be the beneficiary of the trust.

Get all the basics down first then get into the property management portion.

Evernote - keep notes/pictures sync'd between PC/ipad/iphonelogmein - control your desktop PC remotelymindmeister - mind mapping softwarefind iphone - lets you track your iphone if stoleninformant - syncs google calendar and has a very powerful task system.

All liens, claims, etc are paid off and/or protected against, so basically you're getting a house with a perfectly clean title and no liability issues (there is always some risk, but no more with an REO than any other property you might purchase).- Generally, REOs are going to need more renovation than a house you purchase from a retail seller.

Basically, the investor buying a property from us needs to make a guaranteed 8% ROI for example, we pay them quarterly and if we can rent the home out where say we make 11% ROI then not only have we made the sale to the investor but also an additional 3% on top of managing the home.

Financing deals through several investors is basically a banking operation and if you have an investor who squeaks really loud you can have the state banking authority knocking on your door.What I'm saying is that there is no 100% safe way that avoids all banking and security issues regardless of what an attorney might tell you, after all, the attorney has an on going opportunity representing you as issues arise.The way to put such a lender group together is to obtain contractual loan agreements with your investors, as a loan committment, to make future loans available within a short period of time.Usually obtaing short term financing for long term obligations is a good formula for failure.

It basically looks like loansharking-as it was explained to me.I think this is way better than what you were thinking about doing with credit cards.