Thats why I am concerned about going with hml.

If i were u, my biggest concern would be what is this guy looking to get out of me.

Sure, you will have a steady supply of listings, but the will ask you to drop your commision up front, and if a buyer comes in lower than expected on a purhcase price, the selling agent is typically the first comm to get cut.

Agents can only act if they are working under a broker, and then of course, the broker will want his/her cut...

as far as investors are concerned.

sitting in your house on the computer or driving by houses isn't going to cut the mustard.keep on pluggin.

Our main concern is rehabbing a house long distance with a contractor.

That could be $0, it could be a few thousand (I'd sell if I had to carry the thing for more than 4 months..)My other concern is that keeping this as a rental forces me to buy the new house with an 80/20.

Ryan is exactly right as far as Texas is concerned.

(2) the owner of the first lien is planning to bid (but not beyond amount of the lien) (3) second lienholder is not planning to attend (but I assume is protected) (4) "tenant" is planning to bid, wants the house (5) I have told the "tenant" that I plan to bid above the amount of the first and second lien (6) "tenant" is trying to cut a side deal with me thinking he can wipe out the second lien holder (I've said he can buy my mortgage - but I won't do any "deal" which could be considered possibly illegal in terms of the second lien holder).