(EDIT: if your equity position isn't quite that sexy, you can of course cash out 2-3 to pay #4 off entirely.

But he says it's "sexy"...

"pre-foreclosure" is a sexy term - but it really doesn't mean anything without qualifying an individual situation.If you want to have a better chance of success getting a property which is inevitably going to be foreclosed upon, it's a safe bet to start by looking at market comps and then adjust your number based on the condition of the property and the situation of the current owner.  

And our teens are actively doing Running Start.  

He' 4 yo now), get him trained on basic carpentry/construction and property mgmt. as a teen and eventually investing.

The city that we live in needs something new, something big, something to bring the family's all together along with providing motivation for teens and young adults to get out and be active.

It's not sexy, but the only way to compete with the other houses is to rehab or drop the price. 

Smaller brokerages offer some exclusivity, the broker may throw you buyers/leads on occasion, more of a 'sexy' team feel on a smaller team.  

It's not a 'sexy' model, but I developed it when working full time as an engineer.  

Returns in high teens to twenties.