Anyone can make a compelling presentation for a profitable deal if they are proposing offering 1/2 of the value (or 1/2 the listing price) of a property but the chances that offer will be accepted are very small.

The leading real state books and educators teach the following basic approaches to buy real estate creatively.Some good and some not so good.Later I'll discuss the pros and cons of the best creative financing methods so you can determine which to use for your particular situationLand ContractsOptions, Leases, Options to purchaseAITD's (All inclusive trust deeds or wraps)Seller carry back deeds of trusts/mortgagesTaking subject to the existing financingNot recording the deed, which is dangerous if not properly protectedRecording a memorandum of agreement Trusts:Transfer the property to the sellers trust, get the bank to approve the transfer and then have the beneficiary of the sellers trust changed to the buyer.Just transferring title into the buyers name hoping the lender won't call the loan.Equity shareAny of these will trigger the due on sale clause and as a buyer or seller if you haven't put safeguards in place, you are unprotected against claims against the title from showing up and or the lender calling the loan due.Are you prepared to take the chance that the seller may further encumber the property or resell to someone else?

If there's any chance you can reduce the lien, you could then refi or sell the property to access the equity.

From what I've found your rehab budget would be light.I think you should stick with your price, although I think it's a huge stretch that you have a chance to get it at your price.

The more I think about it, the more I think I'd like to incorporate my interest in this area into a possible investment strategy.While I am flexible in my early goings as to what type of property I buy, putting chance of success in investing before fulfilling my interest in beautiful architecture, I've begun to thing of ways to incorporate both.

The chances of a person applying to my house showing up in that database (good or bad) would be pretty slim.I personally think that site has a bad business model...

I think that's a much better chance than trying to force the tenants to accept a revised lease, where frankly, I see no leverage at all (other than to say: "pretty, pretty please").

Pete so I would have a chance to bring lots of buyers by this lovely home.I have a friend that needs to get off his duff and purchase.

The more intimate the interaction the better chance you have of uncovering what their fears and needs are which, if properly addressed, will give you a much better chance of converting that prospect into a private lender.

@Joshua Dorkin Any chance of a BP app coming soon?