Once you answer that, BP Nation can help you... possibly with several options.

It takes a while for someone to build a relationship of trust to get lenders.

That is why I mentioned coming in with say 10%.Let me ask a couple of more 'hypotheticals'........ and please remember these are folks I have had long relationships with, have a lot of trust in me from past dealings etc... and prefer to NOT get all their equity at once.Sample one; current owner owns 8 unit free and clear but wants to back out of day to day etc....

It seems like either way you have to put a lot of trust in your PM, which is why I'm looking to start small, but it seems if you find a good one then out of state investing (for me at least) is the way to go.

.- Make an appointment an see it- Take a trusted rehabber or contractor with you to view it and get some estimates- Take a contract with you.

Local, regional, national , and international private equity groups and REITS know about these deals mainly because there are only so many hotel deals over a certain dollar figure.

Learn from them, gain their trust, and get some connections, ideas, advice, etc.BP lists two groups in Chicago.

Welcome to BP Nation Dana, stay active and engage the community here.

Attorney is the way to go here.Welcome to BP Nation.

But all my property is either owned by me, my spouse or our trust so that is what goes on the lease.