I did some of my most profitable deals when I did not have MLS access.

If you can find good deals and connect them to he right investors, then you'll be positioned to make profits.

I'm assuming, since you refer to cash flow, that the property is being held and making a profit each month.

Private lenders are in it for the largest amount of profit they can make.

With the $9800 in potential closing costs you shared, it would take 3.5 years offset by $230/month profit (230x42 months=~$9800) for you to break even with your current mortgage payments.

Id eventually like to rent it out, i think it would go for 1500 a month while my mortgage would be around 1100, so a nice profit.

From that alone we nailed several very profitable properties.In fact it's one of our best leads as far as owner holds as they still want a little bit of action. good luck

The contract, for example, might say that you do all the work, your partner puts up the capital, and you split any profits after the house is sold, plus anything else you want to get down on paper.

There will be a significant upfront cost/investment to do this but I am thinking it can be a long term profitable little side business ESP. b/c of the fact I will own the building and will not have to pay rent to anyone buy myself as well as it won't require much overhead to run the business.The other positive factor is I would buy the equipment new so there would be low maintenance/repair issues.The way I see it my biggest expenses would be utilities IE. water and gas electricity, as well as insurance and then whoever I hire to run the business.

Currently we have an arrangement where one of us contributes the purchase price and half the rehab costs and the other contributes half the rehab costs for each project, we split profits 50/50.