I would really talk to a mortgage broker and get pre qualified and then focus on profits and cash flow.

Heck, I would make a profit if I did it today albeit small.

If you care mostly about the backend profit, you must make sure your tenant buyer will be able to realistically qualify for a mortgage during your lease term.

;-)Yours In Profits,S and SGoodness where do we begin here?

It was probably a mixture of not knowing people there and making newbies mistakes...but this was 4 years ago...I fliped the property for a good profit !

†Sebat said he used to be able to buy four or five properties at a time and sell them the next day for a profit of as much as 5 percent. “There is panic in the market,†said Sebat, 52, who wouldn’t give his full name because he’s juggling 60 properties.

The idea is that we each put in $50-100k (we haven't reached an exact decision as to what the buy-in will be) and split profits evenly.Here's where it gets fuzzy for me.

I am a licesende real esate agent in NV, I just got a short sale as an assignment and I fully disclosed to the seller and the bank that I am buying with potential to re-sale for a profit and loss.

There are ways to shorten the curve of needing licensing to profit.....Looking forward to chatting with you!

If you are willing to buy out of state and make hell of a profit then I can help you out.Good luck