However, success is not any harder when done properly.One skill I found critically important is better listening ears and understanding.The second is understanding the income and spending habits.

It could use a few upgrades but all systems are functional and 2 units are rented out at a total of $1400/month.

I subbed out a few critical tasks, like electrical, HVAC and some masonry work, but I've learned how to manage those contractors in the process.

A critical consideration.Never buy a second unless you have the cash to buy the first at the same time.If a loan secured by real estate is delinquent, there may be other liens that must be considered before buying a loan in any position.Remember, the finance institutions are full of highly educated and experienced people in this field.

Once the property is stabilized and fully functioning we would then refinance the private lender out and get lower rates from a traditional lender.

The unit seems to be functioning just fine.

Creative financing is a function of terms, not distance.

Just the way you post notices is critical.

Location and condition of property is critical.

They are looking for things that are health and wellness problems(heat, running water, functional kitchen, lead paint) and that there are no big expenses looming in the next couple years.