The second I purchased a couple months later from the family of a lady who had lived there for 30 years.

You can get that little old lady who seemed great at application but if you put a mom with 7 year old twins above her, you may have complaints.

Ladies and gentlemen I hate to admit it but in this environment if you are required by a "lender" to have your client deposit an upfront fee then run!!

It could also indicate a gambling addiction or other issues that could make rent collection difficult.

This realtor is saying the bank may consider full ask price but if not they will settle for a complete gamble by going to auction?

I do not smoke, gamble or drink so Las Vegas was not a preferred location.

But if he came to me with such a plan - essentially gambling with MY retirement - I'd kindly but gently tell him to think of something else.You're asking him to take a HUGE risk on deals you don't even have identified yet - and hope like hell that you can turn 3 deals at $36,000 each in a year.You're just now getting started, so you have NO track record.  

While vacationing in PCB this summer I visited a few town homes and talked to a lady who, when she was my age, went in with another couple and bought a town home.

You have to remember you aren't just looking for one and done investors, you want ladies and gentlemen that will hand you their hard earned 5-6 figures and allow you to keep their money churning better than a dairy farm. 

A casual follow up email two weeks ago turned into a three way business partnership, along the way, met a lady who built a little business empire who selling financing & no money down technique.