Just some food for thought, I know m personal situation is similar and I am looking strongly in to Wholesale/Bird Doging my first few deals to get some cash put aside without the big risks of over leveraging in a Volitale Real Estate market.

Anyway, I would recommend that you seek advice from a qualified attorney that specializes in real estate.

,"it's like finding a bird's nest on the ground".

I have to applogozie for my puppeteer routine....I should have also stated that I am an experienced mortgage broker, been in the industry for 8 years, the last 2 specializing in investment loans.I could give you the names of over 25 people that have successfully closed rehab loans based upon the after repaired value with no verification of income or assets.

That said, the money may have been his or it may have been borrowed -- there are some lenders (transactional lenders) who specialize in loaning money for double closing situations.

My firm specializes in finding property at 70% of market value or less , and assigning the contract to cash investors.We specialize in short-sales w/ lenders.

If you don't specialize, I don't think you will succeed, because there is so much to learn.

Being a bird dog, refurbishment where you do all the work yourself, chasing foreclosure leads where meeting with the owner in default is important and other things are examples.You need to change your model to focus on deals that you can handle remotely.Opportunities - Mostly that you are no constrained by local market conditions.

I am building a network of bird dogs now using ads on craigslist, hopefully they can do some of my grunt work and get me out of this JOB situation sooner.

Edwinreiloans4u, What are you specializing in?