He's supposed to be moving in on May 15th but I haven't received his deposit or first payment.

Just trying to figure out who exactly is supposed to open up escrow, and if you pay for everything at closing (which I believe that is how I have read things).Does your local "guru" really put up the $500, or he just say that?

I think you played it the way it was supposed to be played.

Is this supposed to be a trick question?

I agree about there being no incentive when a third party is paying the bills, even though that money is supposedly recaptured through higher rents.

However used foolishly or improperly, it can cause quite a bit of damage.The 50% "rule" is supposed to estimate operating expenses, nothing more.

Supposedly, there is no common law marriage in PA, but recent (2003) court cases have muddied the water.The other issue is community property.

That is what wholesaling is supposed to be all about.

I think I'm supposed to open title once the offers are agreed upon and I don't know how to do that just yet but I don't want to get ahead of myself.

I suppose in this way we will be able to avoid using conventional financing (other than for our personal mortgage) and still make progress in our investing.To put it this way, in 10 years from now I would like to have enough passive income to quit my job.