Main reason would be to diversify and consider other markets where the $/sq ft is less and laws are more landlord-friendly while still cashflowing.

Hey Haran, those are all solid choices for different reasons, let me know if you have any Orlando related questions. 

You can easily put it under contract and back out for whatever reason.

6%)That being said probably should NOT do that, assumptions can get me in trouble.The reason its such a high reno $ is bc i spoke to a neighbor who said, I quote, "its a complete tear down!"

The best two groups are within a reasonable distance are Greater Cincinnati REIA and Central Ohio Real Estate Entrepreneurs (COREE).

Charging a slightly higher rent for them to subsidize their closing costs is a great strategy for several reasons.

If you "tell little white lies" there's a reasonable chance people will find out anyway, then you'll REALLY look bad!

It may not affect a single deal, but if you get a reputation in your area as someone who isn't reasonable, is always trying to save another $1000, then you run the risk of other professionals calling your competitors instead of you when deals come up.Being easy to deal with and understanding that the other guys need to make a buck too goes a long way.

OOooooh, so there is risk if say I am paying his loan and have control of the house and he for whatever reason loses the loan?

If I were you, I would learn all sorts of things about personal finance and real estate investing, sure, but I would spend a lot of quality time (and money) on furthering my education and having a social life that includes going out on a lot of dates.Here's my reasoning: if you look at all the millionaire households in the USA, as of 2009 95% of them are headed up by a married couple or widow/widower.