We're not looking so much to make a short-term profit from the renting of it, but more of a long-term objective (hoping the property values will eventually hit their values of 1-2 years ago in the next 5-8 years).So, we bought a small condo in Destin, FL.

Still there was no way I'm driving to Vail every weekend if I decided to self manage.I don't consider $11K NET on a $330K investment a good deal so I'd pass!

Greed has gotten us where we are now and if you take a self-serving approach to your wholesaling, you will not be very successful.

There is no ARM or balloon payment.Insurance is current.When we first got the loan I was working full time as a Realtor and found it best that my name not be on the loan...being self employed and all.

the assessed value of the land is 42kthe realtor called me and said the owner is really motivated right now.. so I was wondering what others would say a good price would be before I put in a offer?

Just googlr him. see for your self.

I know there is no way to completely make one's self risk free, but what's the best way to protect one's self and leave room for only worst case scenarios?

Being in Alabama and smaller proeprty may be an issue --also many banks do not like smaller loans -- I am a Commercial Mortgage Broker and limit myself to $1.0 million up- same reason - I spend same amount of time and do not make enough on smaller loans - Please send me email -if it is still available --with info You just have to try to sell your self- through Real Estate Investors clubs and online Free ClassifiedsGood Luck

I will have to get a loan for the house, I won't have cash, well unless I get it for dirt cheap.I'm torn between the two plans, but I have time to figure it out while I learn as much as possible.I have gotten a lot of optimism in this forum, which will keep my fire burning.I would like to do some mock deals, practice if you will, and I'm not sure if I'm going about that the right way.I have a record of a bunch of homes under 100k, all foreclosures, and I'm scouting them and hoping to follow them through the sale and see if I was close to the sale price in my assessment.

Standard practice, so seller shouldn't object.