If an investor is to go this route and is contacted by a seller, how does the transaction happen?

I pay a flat fee around $600 per transaction to my broker and I keep the rest.  

I like @Rick's response - - UNLESS you are a party to the transaction (for clarity, the buyer OR the seller) you'll only muddy the water and if you were involved as a contractor at any capacity, you can easily get your name sullied needlessly. 

I suppose you know what the balloon payment is now, however most residential loans are NOT assumable and I read the ad as the seller selling as a "Subject-To" transaction as an all inclusive deed is a type of special warranty deed where the seller does not give clear title, title is subject to paying off the existing lien as agreed.

We can usually build that in 3.5-4 months, but our permitting process is insanely easy and our building department will accept building plans on graph paper.  

I am all for investing in local real estate transactions however ever since we have rented properties on VRBO I have been curious if these types of investments work well for people.

-Ryan2 REO HOMEPATH TRANSACTIONS: I have purchased 2 4plexes in 2 separate transactions about 2 years apart from 2 different listing agents as REO's from HomePath during this last cycle.

My primary lender is based in Florida so I would probably need to utilize a new lender for out of state transactions.

AB-BC closings... you actually close the deal using transactional funding and resell the property to the end buyer in the same day...

I don't have much cash (~$30K) and am unsure what deal makes the most sense for my first transaction.