Based on what you just described I will ask you a few questions:1 - How long will it take between houses...meaning how long between the time you buy the first house and buy the 2nd house with the refi cash from the first house?

It is the best way I know to try to describe it.

You really did not describe much about the note for sale.

(Wholesaling is what you're describing that he's doing.) 

The way you are describing the property makes me nervous.

Google local (what you are describing) is the way to do it for free.

With the economy being in a state I really don't know how to describe and the "never ending" yet slowly decreasing student loan debt things like being able to travel (Haven't been out of North Carolina much at all), help people navigate the chaos known as credit and having a much broader social life feel like far off dreams.

Let's hope that all realtors are very clear in describing the expectations to potential buyers.For me, I was pretty clear on what I was getting into, and long term is my goal.

I wouldn't use the term "more than happy" to describe any lender/investor dealing with a non performing asset.  

So I will try to describe as briefly as I can my latest experience.