Flip This Wholesaler

Couldn't get anyone out to look at the house I have under contract to estimate repairs. I did speak w someone who has a lot of experience w sinkholes, and he told me it sounds like the problem is rotting wood underneath the house, not a sinkhole. He was just going by what I explained, though, so I obviously have to get someone out there to see it. I am fearing that this house might need to be torn down, but I don't know. I have a 10 day inspection period, so I have some time.

I'm negotiating a subject-to deal w one of the leads the investor I met yesterday gave me. There is a first and a heloc on this property, and the seller agreed to keep paying on the heloc if we would step in and take over the 1st. The seller just got a large pay cut, and soon will not be able to cover the mrtg pmt. He just wants out. I'm going to get pictures of it tomorrow. The investor who gave me this lead is thinking of keeping this as a rental and either doing a lease option or owner finance. Not really sure how that would work w the heloc, but he seems to know what he's doing, so I'll let him worry about it. Also not sure how I will get paid in this transaction. All I know is if I can make a couple bucks here and there (enough to pay my bills) by helping this guy sift through his leads (he does a lot of marketing, and has a lot of leads coming in all of the time), it would be a great learning experience.