When you do this, it effectively just moves you further along on the amortization schedule.  

@Jacques Wurms hey send me more info on this 150k deal maybe we can syndicate the transaction. 

@Adam Piercethe most cost effective way to get into real estate investing could very well be the owner-occupied fourplex purchase using an FHA loan.  

There is no easy or cost effective (or time effective) way to make your landlord perform (rent to you).  

It was only recently, when listening to the audio book "The Compound Effect" did I truly grasp how much I required immediate gratification. 

Easy and cost effective, this is best for an attorney to draft and record.

On the outside of the envelope will be a paper that says something to the effect of "If you refer someone to me to rent a house, I will pay you a commission of 1/2 of the second weeks rent." 

That would effectively drop your down payment to 4%.This is likely only going to work with a small, local bank, and a seller who's pretty motivated and/or business savvy, though!

Jeremy Clarke Not an issue transaction wise, however, selling it to you might create a capital gains problem since she's been there 30 years.Selling it for less than it's worth to avoid cap gains can create a gift tax issue for the equity involved.You should speak with a CPA about doing it in a way that avoids any issues.

I am looking for an investor friendly Attorney who's well versed in dealing with wholesale transactions.