Congrats on the opportunity and being in position to make some money and help some folks right away!

If this is the only lien on the property and you're in the first position, that could be a great deal!

Background: The home has positive cash flow even with the property manager.

If you are eating beans everyday and have nothing to spare, get a position or work that pays better first, RE is not an immediate income producing activity that can be entered into without a dime in your pocket.

The terms that you agree upon are obviously negotiable, but if you're willing to take a small piece of the profit in exchange for sharing your knowledge and guiding someone through the rehab process, that may be a way for you to build your cash reserves.If you take a big picture view and are able to use what you have (knowledge) to help others be successful, you'll be able to get what you want (extra income).I think you'll find that if you take this approach, you'll be in a buying position quite quickly.Best of luck!

The negatives and drawbacks (or course any positives - if they are out there - are good to!)

Now, if the wall is already *significantly* bowed (more than an inch out of plumb), you may need to excavate in order to move the wall back into position and then beam it.

Now I'm in no position to wait for six plus month and have the bank tell me they don't accept my offer.

They also appear on Sched B of your personal.Do you as an underwriter still take a positive view of the passive interest/rental income as losses sustained were from recent acquisitions & rehab expenses ???.

Taking their cash flow, paying off one home at a time and once one home is paid off, acquiring a new one and continuing that process until I'm in a position to either pay cash for a home, or pay it off within 3-4 years.