The money changes pockets but the owner of the suit does not lose anything in the process.The losses come from the sale of the property, not from moving money around.

I think the most important point I got from both of you is to not use "ideal" rents but the existing ones.

It seems to me that a hotel in the middle of or just about to start a PIP could be ideal.

Ideally, right after we get tenants in it.

@Jay Hinrichs We also reached out to our private lender to see if he will restructure the original financing, so thank you for that tip -- carrying 13.5% at the moment, not ideal but with no points and no track record and a minimal rehab, we thought we would be golden.

(I have a computer consulting background).I charge a T&M fee to create,produce and update these listsI print,stuff and mail their mailings for themPart of my service includes Buyer Agency and an agreement to List any properties they fix and flip.These services and fees are reasonable to pay as it helps you achieve your goals.Interview a few agents and find a match that suits your needs.Any agent can do this for you, but only a good agent can do it well for you.LOL, I now see you are an agent, you can do this through your MLS

I'm ideally looking for something within an hour of Boston - areas I'm most comfortable with would include Framingham, Worcester, Haverhill, Attleboro, Salem, and Providence.

Ideally I would like to do a cash deal with my own money, but hard money is just an option I am willing to explore Thanks again very helpful !

The company I worked for insured the buyer.The other two children were upset to find the property had been sold out from under them and hired an attorney and brought suit to set the conveyance aside. 

Would give the landlords documentation of the condition just in case of a law suit.