See if we might be able to work out a win-win scenario to help minimize your losses. unfortunately as Ross indicated these Morris Victims are not in a win win position.. its local investors wins Morris client loses in 99% of the cases.. sad situation thats for sure.. and whats more amazing is the guy is still at it and the regulators have not shut him down

However, like you said many dont venture far from the strip.

Apparently most flippers aren't finding the right properties nationally.It's the old adage, "we're losing money on every project but we'll make it up in volume".

If you don't charge yourself rent you are losing money.

I would fear that if performance hurdles aren’t hit in a big way, sponsors lose interest, and then they take their eye off the ball.

Becoming a Appraiser will seem like fun despite the courses being real high to pay for, almost bout $900 but it be worth it & gets me along in my real estate ventures.

I would love to have another investor or several so I can pull the trigger on these properties faster and not lose out on them.

If you decide to back out of the deal, you will lose that money, but if a home inspection reveals a bigger issue than what you are willing to tackle, you will get that money back.

If the current owner is losing money each month, he'll surely be more open to an easy solution.It certainly sounds like this place is being mismanaged.

If you plan to go through the coursework & it appears as though you want to delve into real estate as a full time venture, not just a passive place to park your money I see no downside to holding your license.