The $96K will be plenty to get your second property.I would talk to a CPA and work through the tax ramifications.

This is the second time in the past month that a lender has asked me this. 

I posted my intro on the new member forum 5 seconds ago!

According to the article, "The private component could bring $30 million to $40 million in investment for a first phase with more in a second phase..."

a simple e transfer gets them paid and being that it is a second job for them, their fee should be fairly cheap.If you have about 20k in cash on your own, i would look to secure another investor or solicit friends and family. 

First I am drawn to "Lease Option" investing and secondly "Buy & Hold".I joined BiggerPockets from a recommendation from www.olddawgsreinetwork.com.

So, I am looking at my second note purchase, and I have a question for those with more experience! 

With a large walk in closet, a large over sized bathroom, and many had a second living room (or as the one guy called it... a "sitting room").So it has been done, the one thing you need to overcome is windows...

And with a good tenant buyer that is willing to pay in a little extra per month toward the down payment, you can get them to work... and ultimately collect your profit on the backend, or on the second and third lease option tenants if that plays out.The clear advantage of going this way is... if you dont find a "GOOD" lease option buyer, you are not obligated to the sellers... just let the bank take it like they were going to anyway.Pre-foreclosure lists are easy to find, and because getting a short sale completed is a numbers game there are often many sellers in that niche that could not get the short sale done, and are going to walk... you can cut your teeth on those until you get your system fine tuned.On a side note... the other way to go is to get a mailing list of absentee owners from your county tax rolls, or realquest.com.

She will make the copies with a second person) That way there is another witness that all info is given everyone. the reciepant it fighting that, saying that as reciepant the bids will no longer be legitimate unless _she only_ is the one who handles the bids until she gives them and the summaries of them to the rest of us.