Essentially what I read especially when sandwich L/O come into play is that you only need a narrow spread on income vs expenses (either rent paid to owner, or PITI if owned), since the maintenance is passed onto the tenant.

When I called to speak with them I spoke directly to the owner who essentially made the decision to do the deal over the phone based on my description of the deal (pending appraisal of course).

Essentially he will get no pay until his debt is taken care of.

Thanks for the quick replies.In answer to your questions, my plan is essentially to do it myself as a side project and change of pace.

After reviewing the benefits of a property manager on my own thread I believe a good one is essential if your real estate business is to grow.

Essentially it is 2 Late fees for Jan and Feb and $20 a day when it hits 11 Feb.

And essentially that's what (creative) real estate investing is - solving problems.There is buying subject-to, AITD, buying on a land contract, wrap, land trust, etc. you could use in this situation, depending on several factors.

A site visit and walking the property is also essential as one may pick up crucial things that do not appear on maps (is that an old dump?

The Fed is essentially buying stocks to create the illusion of an economic recovery.

With credit below 640, your options essentially boil down to private lenders, hard money lenders, and perhaps some portfolio lenders if you have a proven track record of investing success.All that said, start working on your credit now, and in a year or so, hopefully you'll be positioned to borrow!