Greater fool theory in play here, somewhat.As of right now, the big money (REITs and Private Equity) are focused on B(ish) properties, just as lenders were traditionally focused on A-paper and Alt-A borrowers in the beginning of the mortgage boom.

I do not know how this is going to play out.

He keeps about a million in play with me on call for any deal.

Conversely, I think it will take some time to play out.

Your slice of the pie might be better with a cash sale than you playing with it.

My question is if you put a MLO in your team, where and when would they play their role?

Hey Chris,Welcome to BP, there is a great forum on the 2% and 50% rules that should help you get perspective on if this is a good deal for you:http://www.biggerpockets.com/forums/88/topics/13335-5-rule-and-the-2-ruleThese are just general guidelines but a good way to make sure you play it safe the first time out.

Its not a great money maker, so there must be some other play.

I think the theory was there should have been children playing/ speed limit signs and speed bumps.

I would strongly advise a visit to your accountant and council before putting this into play.