I was thinking that I would bring in a certain amount of money for repairs to bring the home to rental ready condition and to have cash on hand for a safety net.

If my asking price of 50%-70% of the ARV does not cover the sellers loan then the deal is essentially eliminated correct??

Basically, he is doing all the legwork up there (since I don't live up there or know Pittsburgh as well as he does), in terms of having found the property (and other future properties), getting a contractor for repair/rehab bids, overseeing the rehab and repairs (as well as doing a good deal of the work himself), and of course landlording and handling any maintenance and/or repairs that come up.So essentially, this is really his deal, I'm mainly just putting up the money/financing.As far as the free rent… I think that is just a bad idea… They should also pay rent (but it could be deducted) from their portion of the “profits”… But free?

And o yea… You almost get $99 worth of free stuff… So essentially the classes are free!

Lock changes, boarding up broken windows, cleaning out junk left behind, tarp leaking roofs, winterization, and fix safety relates issues… Other than that… Yes, go after the Realtor and the Real Estate Investor…

But its a tool to essentially help you find out such things as the title and get good comps nationally.

I really like getting leads this way because the property owners were essentially coming to me to tell me they needed to sell vs. me having to send out a bunch of direct mail letters or postcards trying to find motivated sellers.

Pulled the stumps with my super duty, sodded, muriatic acid on the pool surface, essentially aguttinh but notreally.

You would essentially have to take the lowest, $430,000, as your ARV.Try the public records database.

It is absolutely essential that you learn the basics of the business, including operating expenses and cash flow issues before you buy anything.Good Luck,Mike