That can be an ugly situation.For those reasons, I generally don't do them and I almost always recommend against them.However, if you can get the lender's permission and put appropriate escrow provisions in place to assure payment of the priority lien, then it becomes a whole other ball game.

Renting bedrooms as opposed to full units is a whole different ball game.

The ball is in your court for that.Happy to chat more offline if you'd like.Best!

But they weren't, the ball was dropped somewhere.

That's really gotten the ball rolling for us and I am currently searching for some small Multi-Family properties back here in PA.It's been fun being so overwhelmed with learning new things on this whole real estate investment deal and I am excited to get a few properties under my belt within the next few years.I unknowingly got a bit of head start on having some cash available with a HELOC on my primary residence which should help in my next purchase. 

I'm sure plenty of agents on here will not like this strategy, but if you're looking at properties on your own online, you can always contact the listing agent directly and ask if they think their client might be willing to accept "X(low-ball offer)".

A totally spit balling number that comes to mind on my end would be perhaps $120k conservatively. 

I just want to know the exact steps to help me get the ball rolling.

Very on the ball.

If you can find a good mentor early on who will teach you how to help your clients make good decisions and make sure their interests are well protected that is golden.- When you're starting out it's easy to get overwhelmed, but I think it's really important to remember that with each contact and transaction you have the option of essentially putting money into a savings account with an insanely high rate of compound interest.