There is some situation in their life that is creating motivation (health issues, financial problems, job loss, death in the family, divorce, etc.) that results in the desire to sell their house quickly for cash without making repairs...

A few year back my wife and I were in a similar situation.

i am aware of the seller's "situation" that tells me they are motivated.

I had a recent situation occur that I'm thinking to file a complaint about but I'd like your input to see if this is viable.I am not an agent but have been following listings of potential foreclosures in my area-we are looking to buy a home.

If I were in your situation now I would use it again.

If the property is free and clear the situation is much simpler.

They will pay up.But you have to show you will stand your ground and have control of the situation.

I'm in a very similar situation.

My situation is not those.

(technically, they get an 8% preferred return and I get a 6% developer fee if all goes to plan, then we split any upside after that).In your situation, if you and your two buddies all put in cash, and all have some sort of management/decision making roles, you could divide the ownership and upside according to your capital contributions.