Brian Burke makes a good pointThey may have wanted to use it to keep the kids close to home and that didnt work out

So IF net is $21,600 at 16 cap price would work out to $135,000.00I personally have experienced the problems of old, apartment complexes in low income areas; I much prefer the easier returns of private lending or even the lower cash flow/higher appreciation of properties in A areas, so I would need a 20 cap to be interested.

I decided on / created the name myself, and decided on it before friend 2 joined in.I'm responsible for all graphic design, all video editing (this is the most time intensive part), I registered and manage the youtube channel, I manage the uploading of the videos, I have a background in web design so I'll be registering / creating the website, I manage and operate our social media profiles.

I am trying to work out a couple scenarios for him to just be done with it minimizing loss and stopping continued loss from his IRA.

and if so, how did it work out for you

The market where I live in San Diego is down to about a month's worth of active inventory, and the competition appears too intense for a small rookie investor like me to acquire any real deal.

Not all investments will work out and unless you're comfortable leveraging your primary residence, you might want to look at some alternative ways for raising capital.

Otherwise, you are purely a speculator hoping for appreciation to bail you out if things don't work out as planned.

Banks are dumping it cheap because they can do a workout on a house to get performing again but the land just sits there not doing anything for them.It's all the mindset of the bank and what they are trying to accomplish.

Then the terms can be whatever you and the seller work out.