The MLS method is talking about works great, Direct Mailers have brought me some great success, you can also go to the court house steps auctions and hand out your business cards to the guys there and let them know what you are looking for and if their investor buys one of the fixer uppers by accident because they are typically site unseen that you are more than happy to take it off there hands, this works well and is another way to out source.

Typically your rent should cover everything like PITI, repair and maintenance, etc and your tenant pays for utilities.

I think of an escrow fee as money the closing agent (escrow company) puts in their pocket for services they render, such as, the 50/50 escrow fee you mention, plus demand fee, wire fee, grant deed fee, trust certification fee, loan tie-in fee, etc...all the fees paid to escrow that one typically sees on a hud-1.

Just mix it up in a red solo cup with a sick.

Typically transactional funding is not used for a rehab.

Scott, just noticed you're in Michigan as well, it's a typical bungalow here, the master is smaller sized and the closet will be basically sacrificed for the bathroom, maybe what would be left are shelves and I could provide some of those hanging racks for clothing storage

They will want their own appraisal, they will typically only lend 60-75% of that value.After searching for years, I have found one in MI that will work like this/

I haven't found my first property either and it seems that there are many of us trying to jump into REI along with typical homeowners.I check for 1%(2% rule doesn't happen out here that I can find) and also the 50% rule as quick checks before using the spreadsheet. 1% would mean that you would need to get it for $130k all in.

Typical bank loans are "recourse" loans.

I also like that it takes little to no cash and we won't have to transfer the deed.My first question would be, what do most subject to investors typically do to find a situation where an owner is looking to willingly get out of their current situation?