Some would shy away from friends and family, but I think if done correctly with proper legal documentation and clear expectations, it could be a win-win.If that is not a route you want to take, you could always try creating an ad on Facebook or Craigslist looking for private money.  

When they, that is the seller accepts your "trial offer" do your home work, call the pros in that area to give you an opinion of value.If there is equity potential, great, if not, make a lower offer, if they don't accept it - move on.If you think there is about $10,000 or more potential profit -  now you need to work to realaize that cash - get it assigned as fast as possible.First you need to have a proper contract that gives you the right of possession, right to assign and to market by private treaty or public auction.

Thank you Sam and Greg, that's useful.No worries David, I want to know where the market is, but I never said that will stop me from analyzing my deals properly. 

Some rentals are much more passive, because the tenants were properly screened, and they won't give you any headaches.

I don't have all the answers you need, but I would say to make sure the title work is properly done, either BY a title co. or following direct steps laid out by a reputable title co.... even some lawyers screw this up.I've had to shop a property closing around to 10 different title companies before I was lucky enough to find one to close it for me...all this because the family members used a lawyer to transfer title between each other. 

Then add paint inside and out, new kitchen, updated bathrooms, new carpets in bedrooms, new light fixtures, updated sockets and you´re probably looking at a budget of $8000-$9000 in cosmetic updates, $6000-$7000 for a properly permitted roof and $3000 for a new HVAC system.

Hi,I'm looking for advice on a proper procedure to cancel showing if I caught a potential applicant lying.

I have a piece of bare land in Washington that we had originally thought we would build a personal residence on. But things change and now we are selling without building. We have an offer from a  buyer wanting us to ...

With REOs, the power and water usually aren't turned on until after your offer is accepted, so the inspector can't really tell you much.Generally, you would get a contractor to do a walk through so you can give a proper offer.

It will be solved and brought current when they list the house and sell properly through a title co or closing attorney.Possibly do them a solid (since you are family, pretty please?)