Just keep in mind that finding money for a good deal is not difficult and your costs of financing are heavily outweighed by the opportunity costs lost by not doing it faster and investing in more.

In that price range, I would probably put gas in if it wouldn't be too difficult/expensive to do so.

I am looking to live in the property so it sounds like I should have my parents "gift" the money to me and then finance the remaining balance myself?

Unless you have some fairly ignorant buyers, it's difficult to wholesale off the MLS, as everyone else is already looking at them, and most will have resale time restrictions.

for example:Property Value: $100kSeller Mortgage: $100Kyou obtain the property on a subject2, you then turn around and sell with a wrap with the following:Sale Price: $110K (premium due to owner financing)Down Payment: $20KYou then carry a note for $90K that the buyer must pay offYou then apply $10k of the down payment to the wrapped lender, bringing the wrapped mortgage balance down to $90K, the same amount as the note you are carrying.In addtion to all that, the terms on the new note are created to give you a spread between the wrapped PITI & the buyers PITI (assuming that taxes & insurance are escrowed in).So, after the closing you have created (and extracted) $10K (minus any closing costs) in equity from the deal, and you also are now receiving monthly cash flow via your note and you have no property upkeep.DISCLAIMER: I have never done one of these, this is all academic.

financing is also difficult for foreigners. i have 2 rental units in Atlanta and a multi in phoenix with partners.

Btw, a purchase and sale agreement (not a lease option) that provides for delivery of a deed in less than six months is not classified as an executor contract under existing Texas law or the new law.2) Rent credits should be not used after Jan 10 2014 due to Dodd Frank.3) Buyer gets the deed when title conveys and existing financing is paid off (loan is approved.4) Some states like NC make it difficult to evict, and they need to have some kind of foreclosure.

The sellers balance sheet said the NOI is over 10,000 for the year.

The first one we bid on we were screwed a bit by the listing agent who sold it to another investor in the area for a lesser price than what we bid (dont think the sellers were ever shown our bid), we later saw it on the market fixed and flipped.During this time my mother was facing a difficult time paying for her home so she was going to let it forclose so we were going to purchase a home for her.

It may be because I have only been investing 5 years or so, but I have been having a very difficult time with property managers fulfilling my expectations (perhaps theyre to high), but I know it should not take 2 months to fill a duplex in a highly rented market (just for example in my personal situation).