With that said, finding a mentor who doesn't want to charge me $5,000 or more for an "apprenticeship" is a tough gig all by itself.

I know of some groups that specialize in these purchases if your group is looking to sell at some point.What was the intended exit strategy when the deal was initially purchased?

* BOA - I understand they're tough to get a discount from ?

well this was a special case.

Try reading around the hundreds of threads about various types of real estate investing to see if you can decide for yourself which method will work best for your specific circumstances.Also, pay special attention to the BP blogs and posts about specific experiences people have had...that may be exactly what you are looking for.

The rest of the year is, well, tough sometimes.

Lenders have more to worry about in Las Vegas than "due-on-sale clause violations".As long as this loan remains "current & performing";...you have a better chance of "hitting the jackpot" at Caesars Palace, than having the lender accelerate an otherwise performing loan in good standing for a violation in the "due-on-sale clause".Spending a few hundred dollars with a good attorney that specializes in these types of land contracts should be worth the money. (...try finding these types of lawyers who are affiliated with your local Las Vegas Real Estate Investment Club).A lawyer of this type can create a new, or review and update your trust/sales-agreement, land contract, etc.Here's a different twist:How about a back-up agreement and a back-up deed?

Actually, I said the opposite way... if you're getting $3,000 a month out of a $135k property, that sounds very good (at a 50,000 foot level)... where I said you were getting fleeced was putting $100k down on a $135k property and getting charged 11% on the $35k note.I'm still not sure I understand your financing situation.Hard money on a buy and hold property tends to make cash flow pretty tough due to the higher interest rates.

I see lots of these "handyman special" rentals posted on craigslist and even more as rent-to-own properties.

Anyway, I don't see why the 4S and Siri merit a special warning...?