My partner is a full time wholesaler says he thinks they could sell for 20 a piece rented out.)The deal is 3 row houses for 30k total.

I expect to add another property next year to bring total gross up to 20K or better before I start leveraging these assets to acquire 1 or 2 properties in 2013.Jon - I don't know if they even go sledding on the hill here anymore.

Can you afford the payments even if the investment becomes a total loss?

I totally agree with you.

IMO, none of these investment activities are good as totally hands off operations.If you don't vet every loan, you will end up with some very bad ones.

.)$100 option consideration$840 depositOffer to Buyer from me:$65000 purchase price$1100/mo rent$200 option consideration$2200 depositResults in:Difference in sale: $7100Difference in rent: $8160 ($680/mo)Difference in credit: -$1200Option difference: $100Deposit difference: $1360-----------------------------------TOTAL GROSS YEAR $15,520 (year one) -$1150 (taxes) -$660 (insurance) -$1200 (maintenance????)

An LLC will provide a bit of privacy for you but not total privacy.

I totally agree with the other posters.

They were affordable, which is what I needed:2000sqft 5/2 - purchased REO and rehabbed for a total of 44K.

Day 70 - Offer #3 falls through.Day 70 - Buying agent from Offer #3 finds another buyer, we get a contract at same price.Day 71 - Open titleDay 73 - Title company calls me, and tells me there is 2 outstanding liens on the property totalling more than the accepted contract price.