What kind of flooring contractor are you?

I'd love to see what kind of answer you get on this too.

and others say that the price is the price.Are these kinds of deals just dead in the water or has anyone had any success sending off an estimate of the true value based on actual expenses?

Daniel, I'm not sure where you are seeing those kind of rates at, but they seem WAY high.

Not the kind of tenant I would want.

Buy it for less than the contract which is much like buying a mortgage at a discount.You'll need cash, depending on the underlying contract you might be able to finance it with private funds, most lenders won't touch it.Need to see what kind of contracts were done, the seller may be interested.

Start talking with small local banks to determine what kind of structures they'll lend on.

It was a VA repo and next door to my in laws, so I kind of knew the history.

What kind of profit are you looking at taking when this property is sold?

He's on the finance side, acting as the syndicator and has no finance experience or in structuring such deals.Johnny, you can get a cheerleading section, but there are at least a hundred ways for those with knowledge to cut you out of anything you think you're putting together.