Would be nice to leverage my current 401k to purchase re.

@Jacob M.Like @Cameron Tope said, knowing what your criteria are is essential for determining if something is a deal for you.COC is a rather shallow metric, especially when comparing with other investment types as it doesn't take into account the advantages of leveraging, on paper losses and other tax advantages that you get with RE.

My name is Jennifer and I'm from the south side of Atlanta.  I'm brand new to real estate and I'm in the phase of taking in as much information as I can.  Right now, I stay at home with my 4 young kids and I'm looking...

The house sits on 0.57 acres, and it can be re-zoned for commercial usage if I bring a commercial buyer to the table.

Is the initial negative cash flow ok to overlook knowing I can cover the difference AND that the deal will eventually lead to positive cash flow in excess of $100 each unit per month once I re-finance and move out of one of the units?

Would it be beneficial to re-contact the owner to see what he would sell it for now, or is it out of his hands and into the banks (and now a short sale), or should we wait until the sheriff sale if the property isn't withdrawn?

Although I can't help you with North Carolina Law, here is what we came up with in discussions.

@Don Harris I'm also new to BP and CLT, and certainly looking to get into RE investing here in the Queen City.

I am an active buy and hold investor in Geogia    I have 8 SFH long term rentals in the north east suburbs of Atlanta   I am currently looking to diversify into either another area of the country (probably Tampa, Fl) or perhaps to pick up a few beach (PCB) and lake (Chattuge, Hartwell) short term rentals to attach to a different market   I would like to connect with others in any of those areas to build a better network    I look forward to the discussions.  

Feel free to call me if you would like to discuss it further.