A significant number of my clients are from out of state, including many from Washington State and California.

I've calculated the IRR that includes appreciation, pay down, net cash flow;   a batch of my houses in a high appreciation area i earning 60% IRR (modifiec)/yr.  

I have included one here.

What are some things I should include in the lease?"

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I pay $875 (including principal, interest, taxes, and insurance) and rent it out for $1,625.

If you are going to offer cash for keys, put it in writing with specific expectations, and include a penalty if she fails.

Just ensure to complete necessary due diligence - this can include, but is not limited to, title search, property inspection, appraisal and/or survey. 

What I want to say in short is; you can't fake it in commercial, you got to have the cash, and if you don't own any cash, become a syndicator for wholesaling, if you can make it rain by finding off-market properties, there's money looking for that, including an end -user.But like Joel Owens said; this isn't 2009 anymore, I was in it and remember it all, it was a unique time, that's not really happening now, and I don't see it happening again.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.