They basically lived in squalor and I would have to demolish at least 60-70% of the house and rebuild.An investor called me today and said that he will buy it off my hands for $70k.I am not a flipper.

The Lender Said:  "A $850 payment covers borrower's credit check and basic administrative costs before a loan transfer will be initiated.

You’ll learn all the basic of owning rental property with a pretty minimum exposure.

Here are the basics:* 13 units today with significant cosmetic and infrastructure work required throughout.* Part of the rehab includes building out 4 additional units in an old common area.* We're 5 months into rehab, and we plan to begin renting the first completed units mid-Sept.* Overall timeline (including build out of new units) runs to late 2019.* In the end, the #'s pencil, but capital available for rehab will likely result in slower progress toward until rehab completion.And now the question(s)...1) Does it make sense to refinance at some notional midpoint in the rehab? 

Think of it like a credit card....because that's basically what it is....except it's against your home. 

It's a replacement plan, basically like home insurance.Has anyone used this?

That is not living large but it covers my basic living expenses.

So basically I'm not gonna get rich off this deal but I thought I would put it out here and get some feedback.. 

He basically told me to save up some money and try again.

Found an article on huffingtonpost.com and thought it would be great to share here! What have been your experiences? Do you think these tips are on "point"?