I'm also a young entrepreneur with limited capital.  

From the current FNME Selling Guide.If the mortgage being delivered to Fannie Mae is secured by the borrower’s principal residence, there are no limitations on the number of properties that the borrower can currently be financing.  

Motivation: always loved houses - and when our 4 kids were small I needed to find flexible ways to make additional incomeBiggest struggles: Early on it was finances - had to work with OWC deals only - learnings: tried to absorb as much as I could from the seller perspective such as: what lenders want to see in a home, how lenders qualify buyers, what buyers want in a house, how to create a viable product with limited funds (safe, legal, and appealing)Love & Hate: love a project - finding the deal, turning a dump into a palace, and getting it sold. hate being a landlord - just not for me. 

(My thinking is if I find a potential buyer before the offer is accepted then perhaps I would feel more comfortable in the negotiation process, kind of knowing my financial "limit" based on what kind of response I'm getting from buyers.)Just curious and trying to learn the mechanics/logistics.Thanks,Austin-

Depends on market, but sometimes a JV like this works well.Hotels and large scale commercial, of course, but I'm limited in that area.Open to teaming up with anyone that wants to explore international investors or lenders.

Mentions he lost another $800.00 on the wasted auction and has a 45 day hold from the auction company on the property.Now this guy is laid off from work and off the property, but seemed very interested in a cash offer below market value instead of listing with an agent.Neighborhood would be at least a B with most of the houses higher in value in the immediate area.This would be more of a whole-tail  as it is just personalized with paint and some decor, limited rehab.How can I verify my numbers with this guy before my 45 days are up?

Other monthly debts you already have will limit your borrowing ability, and you need two years of this stable income.  

Yes, The time limitation for a 1031 exchange is the earlier of 180 days or the date of your next tax filing.  

That means all he can do are lease-options until he goes to another guru to learn another trick.You can take all the action you want, but if your knowledge is limited to one or two tricks, that's all you can do.

A newbie investor purchased said loan and had attempted to collect the amounts due well after the loan passed statue of limitations.