It would eat into my finders fee too much if I purchased it.

It's a short sale, unless you want to take it sub2, fix it up, and eat the negative cash flow for 15 years or so til it gets to zero equity.

Yup - I've seen this discussed, but it by-definition limits the pace that you can buy, so it's actually quite rare.It's also rather difficult to qualify for a mortgage when you have 10 properties already.

My plan is to start with single family flips and multi family rentals for cash flow.Welcome Matthias,The Midwest offers some amazing value IMOOur group has moved to Toledo and we have bought quite a few properties in the last 4 weeks.I suggest you look into Ohio, Michigan, Indiana, Kansas, MissouriThanks and have a great day.

I've read quite a few of your articles!

They were the Alderman's "Boots on the ground" and could be quite "Helpful"John

Wouldn't that eat most of my profit up.

If you are covering the rehab out of pocket prior to financing perhaps supplying material yourself rather than eating the contractor markup on it might be worth looking into.

The property I was interested in was an online auction and which was going to use a quit claim deed and I felt this could be a way to reduce risk.

The Turnkeys I have looked at charge quite a bit more to be in the areas I am in but your overall cash input would be less because you would not have to pay for the rehab in cash.