Tell them at least you made some of the payments, and now they have the house back to sell again.Your best bet would be to find a house the owner owns free and clear, and get them to do plain and simple owner financing.

If you've never dyed a carpet before, I bet it's a learned skill so your results may suck the first few times.

Hedge your bets on a good return (Leveraged returns using the 2%/50% rule should return 40%+ per year on a 25% LTV loan).

I am not sure if just walking up to the homeowner in the lobby is something you are not comfortable with or not.In Baltimore, I bet they would have codes court more than one day a week.

He dug out his info on the property when he returned to Houston (he is a huge pack rat) and we calculated that he would have lost (IIRC) about $3K/year over 20 years.

Most lenders would look at the purchase price, and only lend you 70% of that.Your best bet would be a hard money loan for the purchase and rehab cost.

Your best bet for something like this is to get a CD for 5K...

When you say that you will be breaking even or out of pocket some, Did you calculate ALL expenses?

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