I would do all the work from start to finish and the other person would simply provide the money and a little guidance if & when needed (so it would be great if he/she has some prior experience flipping).

All of these require your participation at some level, even if it simply means reviewing the books.

For example if direct mail wanes for a couple months and if you are already consistently doing bandit signs, then your signs might bring you deals doing the months when the direct mail isn't.You said you had a profitable 6 months so maybe you are simply experiencing a temporary dip in one particular strategy.

I agree that hiring the right kind of property manager is important (or when you are small do it yourself)up here in Buffalo we don't count on appreciation ( it simply does not happen)I have one acronym OPM - credit markets are freeing up and banks are lending again.

Another is to solve your insomnia by reading or skimming through the Dodd-Frank and the SAFE Act.However, here's the rub. we have folks here giving links to these sites and most information is simply misinterpreted as the information pertains to registered lenders or a bank or RLMO, not the average Joe doing a deal.So you have to be very careful in trying to read regulatory guidelines and know where you are in the subject matter.It might be better if you just stick with the news networks, but even they get things wrong or make improper implications.

I could simply guarantee him the interest though and that would take care of that.Any other thoughts about my two offers in the above post?

Otherwise, it would just be in your interest to sit on it forever and get free rental cash-flow and hope that the market goes up, not down.I did a deal like this as a lender, but we simply took over the mortgage and I paid the rehab costs ($7500), and the deal was lease-to-own, so we had a timeline and a target sales price.

All the others the opening bid was simply to high from the bank.

That is simply error, but to the appraisers credit, he/she is hamstrung by the lenders and the rules, one of which is that the subject property buyer contract price is not used as part of the evidence of value.

Hey Account Closed - I don't know for sure on that situation, but I think the easiest solution would simply be to get the property under contract before approaching a lender.