Kind of ghetto, neighboring houses messy-ish, all houses are unique (they aren't all stucco houses built by a central planner... so there aren't rows of houses that look the same...), they are older houses...Should this not stop me from looking?

Again, this boils down to the criteria you set for your business as to what kind of tenants you want in your properties.I'm no expert, but when something sounds this complicated, there is usually a devil hiding in the bushes somewhere waiting to burn you.

I would like to offer to pay her mortgage while it is still on her name but what do I need to protect myself with this kind of deal.

I had a tenant recent put a money order in her mail box (the non-locking kind at the end of the driveway) to be mailed to me.... and was somehow suprised when I called asking where the rent was.

That got us asking all the right kinds of questions.

Which, I guess, begs the question: what kind of investing are you looking to do more of?

My brain feels kind of fried right now, so I need help thinking through this one.

I'd say I can't believe all the welcomes, but I know that BP has the most generous and kind group of people anywhere!

Amir,Thank you for your kind words.

Here is a duplex that has the potential to break-even, if not net a little cash, from day 1: http://www.redfin.com/CA/Los-Angeles/104-N-Harper-Ave-90048/home/7093197My question to those more experience is, say I wanted to approach my investor friend with this property, what kinds of deals could we structure such that he'd be willing to invest in acquiring the property, we both acquire interest in the property, and we each obtain some sort of gain in the long run.