This is actually an illegal practice in Illinois anymore: http://tv.yahoo.com/contributor/1028501/news/urn:newsml:tv.ap.org:20080815:people_ed_mcmahon__ER:22067On a little more serious note, this may actually help the image of investors to show how they can help out folks in medical crises.....

And from what I understand right now getting a HELOC on a non-seasoned house is nearly impossible.

I had a lot of lookie-loos off craigslist, and no small number of medical students from Great Britain moving to the US with their daughters, but had more calls off the sign.

This has been discussed several times on BP and is obvious to all non-agents and non-brokers.

Bullseye always make sure you get a large non refundable deposit this way it motivates the buyer to stick with the deal.

I would NOT sign a non-compete.......you want to be in busness for yourself and not controlled by others.

Because they have a lot of income from a non-real estate source; they want the tax deduction; they want a nice vacation spot for themselves; and they are speculating on future appreciation.

If the insurance is not escrowed with payments, just cancel the old, and get a new, as described above.As long as the asset/colllateral for the mortgage is insured, the lender is protected, they don't care what company you use, or who holds the title, especially if its in a trust.As long as the house is insured, payments are current, you'll have no issues.Sadly, many people THINK changing insurance causes issues with the lender and the title change.However, after YEARS of subject to investing myself, as well as thousands of discussions about this method, I have yet to have a single person back up that claim with proof.Besides, bottom line, at the moment, lenders have other issues more pressing than messing with a PERFORMING account/loan.When you get new insurance, make sure its fire and hazard, and includes liability, rental dwelling/non-owner occupied.

Please allow me to apologize ahead of time if I have put this in the wrong location.I have an opportunity to purchase non-performing notes.

I'll give you one that tested my soul.I had to evict a young mother for non-payment.