Now realize I don't really know about building practices in your area.

I think working hard as a realtor while cleaning up that credit would be the most practical path to Real estate investing.

To force change an amortization on a distressed loan from 30 years (or what ever is remaining) down to 12 months is not going to be a solid practice idea.

It does happen in practice!

Any advice or good practice to do in these cases other than a strong inspection contingency?

@John K.Our lease (actually the schedule 'A' to our lease) identifies the tenant is responsible for any by-law infraction fines assessed as a consequence of their failure to fulfill their obligations and responsibilities (put out garbage, clear snow, or mow the lawn, having non-operable vehicles on the property, etc).When we receive such a fine from the City, we pay it and then send the the tenant a letter and invoice for the amount of the fine, plus an administrative fee to cover our bookkeepers time to issue and collect the invoice {though we typically waive the administration fee on first offences}.

It's a collection of the best flipping info from the site.

another reason to put the properties in an LLC that both you and your aunt own is that in Ohio a person is required to be a licensed broker or agent working under a broker to collect a fee to manage properties for someone else.

I can help them out of their awful situation, get my investor this home he wants, collect a sweet check.

Having all such parties on the hook makes collection activities against such interests easier.Another aspect is simply to reduce risk, loans are made on a joint basis giving a lender the option of seeking repayment from the easiest source of funds or assets that might be available.