if you signed an assigment contract it sounds like the property changed hands between developers before it was even sold to the original contracted purchaser...USUSALLY, when this happens is as a result of the developer going belly up on a project or the fact that he can't pay off the contractor.

In order to pay contractors he used and his CC bill on the repairs dont to the house, he wants to work a deal with the buyer (investor) to off the bank the SS amount and then outside of the sale ask for a promissory note from the buyer in the amount of around 10K.

Enjoyed reading your post.

With the deal, with the financing, with the rehab, with ourside contractors and with the sale.

This makes the investment cost efficient and practically risk free.Unit owners in the rental pool enjoy totally hassle-free CONDOTEL management.

enjoyed your post.

Investor #1 is doing all of the work with contractors and Investor #2 and 3 are silent investors.Thank you, MommyInvestor

Hi Rich...I am a local contractor in the Ocean County area.

or you could use this formula:gross rents devided by 2 - per annum mortgage payment = possible cashflow - this is a quick snapshot view of cashflow...now if you're thinking..okay now what...refer to beginning of this post - it all depends on what you or your company can handle.other things to consider are:interest rate & termsmoney downloan amounttaxes Fixed ExpensesVariable Expensesmarket valuemarket speculationrentals in area - vacancy ratesquality of rentersproperty management - you, your business, or someone elsesrepairs - you doing the rahab or relying on contractors (good luck)now you probably know all this so it's redundant BUT, in my opinion, all of the above is really what counts, bottom line.

This is only easy if you have experience as a general contractor.