The downside is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

However, I went to the first meeting and the main speaker was an out-of-town guy giving a super high-pressure sales job for some MLM program called "Financial Education Services Protection", which didn't actually have anything to do with real estate, other than he was pitching us to pressure credit challenged prospects into buying this (my opinion) predatory program.

Does anyone know how to get in touch with bank asset managers?

I own a tax return preparation, financial planning and business consulting firm that specializes in tax returns for real estate investors and setting up LLCs for investors.

Some elements that will make a condo non-warrantable are:* High investor ratio* Insufficient reserves/Bad financials* Litigation* Buying as investment vs primary/2ndWhen the condo is deemed non-warrantable for the specific transaction, then the only financing option left is a non-warrantable condo portfolio loan.Hope this helps.

A person in your financial position has no business doing real estate.

Prepare your financials just like you would if you were any other business seeking a business loan.

I am looking to turn this around into an asset and expand and create some positive cash flow.  

REIA's are great for entertainment and exposure to those selling dreams and stuff - but they will not move you forward fast enough.You give me the impression of being impatient and want to reach your financial goal - maybe before you even have them.I too know many of those 7 figure income people and own a unit in Manhattan and other states.Those 7 figure income people got where they are by making right decisions - they have the ability to see right through a novice and a bad or unprofitable deals and have the ability to dismiss an individual without mercy!

Mobiles are a depreciating asset therefor in themselves not a investment.