Good evening,I may be looking for a partner as well, however we are more looking in the 140-200k price category in Riverview, Brandon and Valrico.As of now, we are looking to purchase the home with a conventional loan, turns out to be a little challenging since most of the better deals are lot of times cash only since a lot of the properties don't qualify for a home due to not being whats considered livable.My plan is to purchase a home, live in it for about 4-6 months, do most of the rehab myself and sell it.

Then moving into fix and flip and eventually, holding properties for passive income...Over teh last few months, I have engaged myself in extensive (REI..) training.

wow @James Stokes great job,use your kids as your inspiration to give them a great start in life Nobody should be able to use their challenges in their daily life as an excuse not to invest

 Thanks Guys for all the input,    The challenge at  first is the 1st contractor has the master Plan to the project, this is my second rehab I am still trying to learn on the process.

I would love to hear your stories of investing in a down market, how you prepared for the "wave", your expectations v.s. reality, challenges and resolutions, and ultimately how everything - including the anxiety and uncertainty - payed off!

@Karl Johnsonyou can set a fee to set up the deal and marketing for the buyer.Paid by seller, buyer, or both.Land contracts, wraps, and free and clear installment sales also can be contracted for.You can not guarantee the performance of buyer to receive permanent financing in the future.You must use a RMLO - registered mortgage loan originator -  to protect the seller from buyer creating a lawsuit over Dodd Frank's Ability to repay rules.You must use a payment serving company to protect the buyer from seller not paying the PITI.Once you learn these strategies, you can assist pretty house sellers sell on terms and challenged home credit buyers buy on terms.Caution: Make sure buyers go through the RMLO.

I do appreciate the devils advocate perspective, and had to challenge my thought process several times before proceeding.

Knowing whom to trust in this business is a challenge for Hispanics in this country, especially in our part of the world.  

Before I get started, am looking for advice on any pitfalls to consider before I engage in a zoning discussion with Regional Building. 

You'll find more challenges on that than you will on the "Produce the Note" offense that borrowers have tried over the years with limited success.I'm taking an excerpt from a law school publication on the subject:https://www.brooklaw.edu/newsandevents/news/2013/~...