Win-Win

Hi Andrea,Just wanted to chime in quickly with my 0.02 Australian cents.You have received some great advice from the prior folks that commented and here is mine :)We have done so many deals in Toledo that I stopped counting at 500 lolOne thing that we have not yet figured out is "contractors".We have lost millions to these folks and experience has lead me to believe that it's just the "cost of doing business" in this market.So many just like you have tried to do flip from afar and have done so very unsuccessfully (Many come crying back to us and begging for help).The others tend to have delay after delay with big over-budget costs just to complete the job so it would have been better paying full asking price for an already renovated property.I know of only a few investors doing it well and even they still have someone on the ground that is pinching pennies from them (No where near to the degree of what some contractors do so I guess you could call it a "win/win")Spend more time conducting due diligence on building a team you can trust rather than focusing on the various areas/zip codes.Visit the market multiple times and "shake hands/kiss babies" by meeting with as many people as you can.You need a real estate agent, property manager, contractors, maintenance person, attorney, accountant, title company and mentor just to name a few.Nothing comes quick and easy in life and neither does investing in real estate successfully.Finding the above folks could take you years but don't rush because there is nothing to miss out on in my opinion.The Midwest (Especially Toledo) tends to be a boring and slow moving market.Thanks and I hope my comment helped.I wish you much success

I emphasize the SHOULD here because I’ve seen some bad property management companies.  

Any thoughts, or advice on  a win-win strategy?

He may even tell you where you need to be on price to help make sure you win the deal.

If he had to choose between rent or his car the car would win out.Screening requires that you understand people and how they make decisions.

And that club network will come in handy should you get your first fish on hook.Hard, persistent, process-driven work wins.

If there is some negotiating I don't necessarily mind because we can typically come to an agreement that's a win win. 

But that’s ok, I used this cash out refi money to buy three more properties so it was a win.

Anyway, we just thought there could be a win-win situation if we became her landlord and she could stay in the same house she has been living in where she can walk to McDonald's to work, and we know she would take good care of the house, etc.