Lands can also be used for entertainment use are nice options too.Generaly land investments are bit risky compared to single family houses rentals or flips.

Give that 40 50 years and exact location becomes more important almost more than anything else...that is proximity to the most high paying jobs, entertainment, etc... 

Hi,I've noticed that most FSBOs are not receptive in doing a lease option or terms type deal.Some say don't use words like "lease option, lease purchase or rent to own" with sellers because a lot of sellers really don't understand and it may confuse them.I've been unable to find sellers that will entertain doing a lease option or terms type deals.I've heard that some use expired listings as a lead source but I've been unable to get a Realtor to provide any expired listings so I tried to contact the FSBOs directly on-line.Not finding any sellers that will do creative deals like lease options or terms. 

We are entertaining using private money to purchase 4-6 unit bldgs in Jax.

I'll have to double-check if this TK company entertains lower offers since 10% CoC and $200/mo is pretty ideal.  

Seller seems pretty motivated (i.e. flexible) and has nothing to lose by working with me to get this thing closed, rehabbed, and cash flowing again, so perhaps he will entertain some creative techniques to get this done.David, or anyone else, can you give me some more guidance on the owner financing terms I might go back to the seller with?

Bigger Pockets has some great podcasts that are full of great info and entertaining.  

I would gladly entertain an owner financing arrangement.

The owners are my parents which is why they would even entertain a silly idea like this.)My question is:  What are the steps my company would need to take to gain access to this HELOC?

So will see. but if I got an offer on it once I have owned it a year or two so I could get cap gain or 1031 I would entertain that  other wise just see how it goes.Its in Eugene Oregon so pretty big metro area. with lots of people and this is I am sure the least expensive place in the entire region to live short of moving back in with momy and daddy