Purchase contract should show the entire legal as platted.

That is a very smart way to start your journey.

Cut rates, or implement smart pricing, or both. 

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

A contract with financing should work just as well to get more time.

And also I inherited the tenant and havent signed lease with them been advised to better honor the same terms of the seller until their contract finish.

Geez...I would notify the (female) tenant that she is in breach of contract.

I don't think it is smart to start off buying foreclosures in an area that goes for 500-600k. 

For those with limited funds, starting your journey through wholesaling, can be a smart move.

A “contract to hold” binder payment equal to a month’s rent would also be collected at that time.