This makes it easier to count on the income for your personal budgeting.

Offer cash for keys to person but money is only after they leave and property is left in broom swept condition3.

I'm a multifamily analyst for a bank that originates all sorts of real estate loans, and I am looking to connect with people that have a passion for real estate and money.

Utilize a 5% down conventional loan say on 600k small multI family that needs some work but is livable and financeable and that’s 30k, leaves you a good buffer for construction cost and reserves.

talk to the dept of health first (records requirements etc), establish what upgrades/maintenance required, line up a reliable repair/handyman/type person, consult lawyer, and then make your offer, see if you can buy the land it's on via lot line adjustment (ideal scenario). a lot to be aware of, such as system upgrades or county code changes bringing in the requirement to add metered connections to an older small system, for just one example.Otherwise- owner doesn't want to manage, I doubt you really do either but could be wrong. 

Quote from @Neil Warren: Hard money loans are at higher-interest rates and for shorter terms, meaning you will pay them back quickly, usually in 12 months or less.You should not borrow 100% of the purchase price.

Downsides are that he gets none of the potential upside when the property may be sold down the line, and we have to find a way to ensure that we build enough equity in the property to do a cash-out refinance when the loan term ends to pay it off. 

If you find one who has rental properties and has first hand experience that can be VERY helpful.The conflict of interest is a common question, but really a non-issue if you consider the size of the market and how many properties an agent can buy.My team and I work with a lot of investors and yes I personally buy a handful of properties every year, but there are about 30,000 transactions every year in Milwaukee.

Yes, I am dually licensed to originate loans 

Talk to your loan servicer.