Do you do an occasional flip here and there to build more capital and increase the rentals?

If you don't get it find the next one and move on with it (remember they have six months to dish it out ftom the time of foreclosure) and try and get that one.

And yes, I occasionally enter into joint venture partnerships with several former members of WCRT, including it's CoFounder and former President and have had excellent experiences partnering with all these people.I will say no more on this as it is pointless.EDITED: Ryan asked that I clarify so I will clarify that I joint venture with the Founder of the original Windy City Round Table which predated WCRT for some years, the Co Founder and former President of WCRT, Inc., and the Founder of the new Windy City Round Table.

Occasionally, we have a change up, such as a training school that shortened classes, and so the turnover increases or has decreased.  

Assigning a contract can usually be done on a one time basis or at irregular and occasional intervals, where you have the ability and intent to buy, but you just change your mind and take a quicker profit, this might be justified. 

Please read the part about the REO listing commission and be aware that some of the commissions are so low and the task requirements are so high ( like putting utilities in agent's name and getting "promptly" reimbursed 3 months later) that many of us would starve if we didn't occasionally sell these REO listings ourselves in order to get the selling side of the commission, which is much greater than the listing side!

A JV partner rehabber will occasionally lose money on a deal; a GOOD HML or Private Lender rarely will since they typically have a 1st lien position and a 65% or lower LTV secured position.  

By the beneficiary's discretion, there could be an open modification or short sale reviewing taking place and the mortgage servicer is requesting postponements, the borrower could of filed Bankruptcy, or the occasional shady postponement tactics. 7 Years is on the extremely long end of the spectrum.

If you plan on using it occasionally and for stuff that does not require too much power behind the trigger go with Ryobi or Ridgid.

If the taxpayer's intent is to do an occasional flip, he or she would be classified as an investor.