I know someone who did quite well as a new investor just making deals with investors who would negotiate with him.

you're right - with debt service over 2400 - and revenue at 2800 - it's not that good - it's a freakin aligator - it will eat you alive.however - you need more information.

Hey i know you posted this quite a while ago however if your still in the market I work with both Conventional and HML and would love to assist you.

I'll eat that house stud by stud before he gets over on me!

:D I pretty much only sell to investors, and they have to have cash, hard money, or a commercial loan.Most of the rehabbers I know just end up eating it in holding costs until the seasoning is up, but obviously as you seem to already have caught on, there are other creative options.

I've heard of people transferring title by quit claim (instead of warranty deed) into an LLC and losing the protection of their title insurance.

I am in the Hollywood area, but travel to the Burbank/Glendale/Pasadena area quite often and sometimes West Covina

Obviously I would eventually like to quit my job and peruse real estate investing full time.

I always figured it would be natural to get into something larger to enjoy even greater rewards, and not surprisingly, real estate and property have been on the radar for quite some time now.

Unless you are dealing with a very substantial project, 5 years is a quite a ways for most contractors.