I can't afford somebody else to go do it right now, but I'll probably man up and get it done at least the first time or two.I think I can pull an ignorant newbie position the first time...

Would private money be willing to take a second position?

Have been looking around at posts, and already listening to the podcasts and learning a lot about strategies others have used who were in my position in the past, BP podcast 23 with James Vermillion was great.

Hi there I'm looking to invest out of state I live in San Francisco Bay Area it's not cashflow positive any good stories.

There are so many positives about this property and surrounding area that it is hard to let go.

If the bank has first position, I do not have any protection in the event of a default.

I wouldn't be in a position to buy another property for a couple months anyway, because I'm currently in process on a duplex and have a single-family to do after that.

You meet people who know people who can point you in the right directly.I think you may have a misperception of how salaries work in these positions, though.

If you can be successful at even a handful of flips per year, you would be in a position to potentially add that extra property per year to your portfolio.I think this is a great strategy to start out with.

Here are my thoughts, coming from a complete novice:You've just acquired a $190k asset for next to nothing, and it has positive cash flow with a long term tenant already in place.