Here's the basics: Balance of 125k note due on 10/09.

My brother was involved as half of the remaining balance of the house would be his according to our parents wishes.

I've got a bit different way of doing it, so take it for what it's worth, but i've found a couple areas (especially right now) that have 8 and 9 cap rates not too difficult to find.Agents that are familiar with MFH can give you a good Idea of what a good deal in the area is.

One thing about birddogging: Even if you don't have much money, and think the only way to break into REI is through birdogging, you may find that when you start marketing for motivated sellers, which costs money too, and they start calling you, it may be difficult to just give those leads away to the investors for a small fee.

By the same token, you need to have effective, clear, checks and balances in place to KEEP your employees loyal and honest.

Locating people with private money would be a bit more difficult using online lead gen.

He would owe me for the loan each month, so it would somewhat balance itself out.

`(b) Purpose- The purpose of the HOPE for Homeowners Program is--`(1) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;`(2) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;`(3) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;`(4) to target mortgage assistance under this section to homeowners for their principal residence;`(5) to enhance the administrative capacity of the FHA to carry out its expanded role under the HOPE for Homeowners Program;`(6) to ensure the HOPE for Homeowners Program remains in effect only for as long as is necessary to provide stability to the housing market; and`(7) to provide servicers of delinquent mortgages with additional methods and approaches to avoid foreclosure.

There may be a minimum loan balance and I don't know if $30K is too small a loan or not.

There are various good ways you can market to sellers, as well as calling on FSBO ads and looking on Craigslist.As for PM, if you are up for it, it is really not that difficult to do it yourself, especially helpful if the deal is fairly marginal as to profit, you can save 10% by managing it yourself.