I would be reluctant to accept a quit claim deed under any circumstances, and especially if the seller wanted to do it without any title work.  

Your best bet is probably investing it across several REITs (so you are diversified) and can still have exposure to real estate.Under no circumstance should you pay 18K to "become" a sophisticated investor (especially if you're only looking to invest 10K).

However, if they did wind up launching foreclosure, I would probably be the first homeowner in the history of this HOA to wind up in that unfortunate circumstance. 

@Isaac Frost Being in similar circumstances, albeit a different price bracket, I think it sounds like you are taking care of all the parties' interests with this split. 

There are transactional lenders to bridge the gap.If you have workable circumstances, the seller can seller finance (sub-to if need be, not a consumer loan) to close your side, then pay off the note.

Under normal circumstances, I would have paid cash, got the property in good order and then gotten a mortgage.  

If the deal works at the 50% rule then it works under better circumstances.

I have two women full time on payroll and I keep them very busy.  

i need a short term loan (40k) against the equity in my primary residence. i own it free and clear. it's valued at 65k. i have no stated income. credit score 675. $0 debt. i've inquired at the banks about heloc, but h...

One thing I know is that no matter what your circumstances, if you look at all the possibilities, and find one you CAN do, you can take the first step, then the next, etc.