He invests $50k, you pay him $1k per quarter.  

However, my last quarterly sewer and water bill was closer to $500.

Foreclosure Market report.Improving REO picture: Foreclosures Further Fade Away"This actually may be good news for an inventory-starved housing market, especially since these REOs are selling more quickly and almost at full market value in many markets," according to RealtyTrac’s report.REOs sold in the first quarter nationwide, on average, in 243 days (which includes from bank repossession to closing), according to RealtyTrac’s report.

Keep in mind that published market data is almost always a quarter old, they will never reflect the current market.

We don't actually do this for every property each quarter, but randomly pick properties each quarter.

You're still sitting on a quarter million dollars off of a +/-50K initial investment.

You have a $100K+ asset thats appreciating, provides living quarters, cash, tax advantages, etc.The asset comes first.

Maybe we could set up a Meetup group and have monthly/quarterly meetups in the Hyde Park area.

The lucky part for you is that there are many fewer people who are in the multi market than the SFR market so it should increase your chances right out of the gate so to speak.Also depends on DOM (days on market), at some point the bank will want to clean up the balance sheet for the month or quarter etc etc and if not sold, will begin dropping the price, sometimes dramatically.

Distributions to be made on a quarterly basis to all investors based on excess cash flow.