I want to help stimulate communities which have been neglected and which would benefit from having distressed houses purchased by someone like myself, fixed up, and sold to a new beginning family for an affordable price.

Make sure you have enough money to hold you over for unforeseen circumstances and time.

I've done a couple wholesale deals (contract assignments) and while they were complicated just due to weird circumstances, I wouldn't consider them HARD given the $10,500 that I made off of them.

Originally posted by Julian Jasso:- declined a short-sale offer- not paid mortgage in 2 yearsI usually try not to judge people because everyone has different circumstances, but this looks like a major case of irrational behavior.Like others said, check and see what it will go for at the trustee auction and if no one picks it up, wait and see when it turns up as an REO.

The biggest draw for 95 percent of the rentals in this area is they are very neglected by out of state investors and most fell into repos and house middle lower income tenants.these are 1200 sq foot 2 bedroom apartments.

2) Given the above question, and my circumstances above how should I go about the financing considering it will be my first time etc?

Fabio Dovalle your Purchase and Finance should reflect your conditions and intentions right now.Sounds like an Owner/Occupied multi-family which will have the lowest down and rates.Your circumstances could change later.LLC makes it a Commercial loan much higher down and rate.

They offered additional training, but my circumstances wouldn't allow my to take advantage of the training and then my brother introduced me to this site and I have to say it has been a God send.

Everyone must evaluate those questions in light of their personal circumstances, tolerance for risk, available capital, etc.

I have a tenant whom singed an 18 month lease and due to circumstances he could not control, he had no choice but to join the armed services to help provide strong healthcare for cheap for his growing family.