And knowing prices in many other areas, I don't think this is unreasonable in many parts of the country.But again, it's going to differ based on several factors and getting several bids is the best bet...

They are hard on the rentals, not to mention waiting for +40 years for an investment payout on a nickel and dime bet on housing in a very poor area is not a good investment strategy.

You may have more luck with local lending institutions, so definitely look into that option.A few other options for you:1. private loans - see if you can find a passive investor who would like an equity stake in the property.

Thanks for the welcome Rusty and Jon.Did that other guy delete his post, I was hoping to get his name written down.Since I'm new to this site, can anyone commenting here tell me how we can communicate privately since it sounds like there are "rules" here.

With Conventional loans the investor could be fannie, freddie, ginney, or a private even.

I'm wondering if that would be a better way to structure my private loans.

For Tax purposes your best bet is to start an LLC and DO NOT elect any other status.

I got tickets to the conference because I'm betting that we will get out more than the $1500 we will spend on it!

Recently, I have been bombarded with opportunities to buy properties with private financing in place.

The best I have found is private money with tough terms: 50% down, 5-7 year terms and am schedules, 9-12% interest.