Purchase the property Subject to the existing financing with a promise to pay the owner's portion of the proceeds in 90 - 120 days.

Exact duplicate of an existing post.

I'd never contract in CA just because of the regulation and hats off to anyone who does."

I am moving out of my existing apartment.

Does a blanket still exist for a deal like this?

The best I've done thus far was a 3 BR 1 Ba 1400 Sq ft SFA - middle of row in decent condition....for $22K...not war zone - this block is actually pretty decent - but two blocks down...no comment....but we're only getting $550 rent - section 8 around here is tough - very stringent regulators....

You will have to forgive my ignorance, but I have never been party to a transaction where such a fee existed.

At least the Hard Equity Lender that I network with.I'm not familiar with the New Jersey market but I don't think 70% exists unless you are buying Bulk.

pull the 30k to live off of (fyi i have residuals of 2k a month from my existing business)use the time to get another property and do the same thing over and over.

I'd use the existing rents, so $3500 gross rents.