Understand the basics of the business2.

Basically a sandwich lease.

Most of the crime is scumbag on scumbag crime, so I don't consider there to be a great threat to my safety (although I do currently have one restraining order against a convicted felon and I ALWAYS carry a handgun).Mike

I guess basically what I am looking to do is to buy the place outright, do the exterior repairs, and then get a check from the bank for 48k (80% value of the house) once I'm done.

Its a safety mechanism.

Even with the low number this deal has potential depending upon the condition of the unit.Some basic questions that I have would be:1.

That's a usual and customary basic real estate approach to share title interests while operating and phasing other title holders out of ownership.

(at least in my business model.)It is understood that the 50% rule has shown validity, what I am saying is that the your expectations of cash flow must be changed if you have others managing the property, not that the basics of financial rules change.If you are a backyard investor buying three properties that cash flow $200 a door, and you enjoy the work, in theory you are making $600 a month in income, and having fun doing it!

I'm looking to build a basic website and was looking for some suggestions on how to get started.

I hate to sound like a jerk but I can't help but blame the homeowners mostly; I'm sorry but don't take on a debt if you cannot pay it, or do not understand the terms of it, this is so basic.