I am 51 and still remember what Steve Jobs said in his Stanford Commencement Speech (2005): Until you find something you love doing, do not settle (I am paraphrasing him).

Since relocating to College Station, my Austin Commence National Bank Lender referred me to Mike McBerty at the local Commerce Bank Office. 

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."  

The work would be fully supervised by a licensed broker in the area.When this deal is completed and sold we would commence another deal for more profit.

The landlord, at commencement of the tenancy, must ensure that screens are installed in a reasonable condition.

Hey listing agent, I'm sure you've got multiple retail quick-close offers on your desk, but this property is totally beat up, and if this offer is the only one with a plan in place to bring it up to basic lending standards as part of the process (reno work to commence post-close, after your seller has been paid), that means this is the ONLY offer on the table that's actually going to close, so accept this offer, and don't talk to me about the fact that it's not at 120% of listing price because again NONE OF THOSE ARE GOING TO CLOSE... except this one."

The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from bankruptcy creditors;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be directly invested in your own business startup  The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (self-directed IRA LLC) must be utilized;The solo 401k allows for checkbook control outside the LLC;The solo 401k allows for personal loan known as a solo 401k plan.If you borrow from your own IRA, it will be deemed a taxable distribution;Unlike an IRA, a Solo 401k can invest in life insurance;The solo 401k allow for high contribution amounts (for 2015; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of his or her solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of his or her IRA; instead, a trust company or bank institution is required;Unlike an IRA, generally when distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian, generally by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA--from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth 401k RMD requirement;Roth IRA funds are not subject to requirement minimum distributions (RMDs);The fair market value (FMV) of assets held in a self-directed IRA is reported on form 5498;The fair market value of assets held in a solo 401k are reported on Form 5500-EZ;At termination, the solo 401k is required to file a final Form 5500-EZ and 1099-R; andAt termination, the self-directed IRA is only required to file a form 1099-R.

I wouldn't sign an exclusive if you can avoid it, but get a broker or 2 on board to find a tenant and offer a commission if they get a tenant in, lease signed, and rent payments commence. 

I've also read that this number could be around 1.25% per month with a total annual return of around 16%. 3) True or false... all properties have a 6 month redeemable period before the foreclosure process can commence unless the house is abandoned/vacant raw land... then the investor can immediately start the foreclosure process. 

Let me Explain: As I understand it, it is not best practice to find what you think to be a good deal, get it under contract, and THEN commence to shop it around.