I've been told there are lenders that will recognize the agreement as a "purchase", allow you to refi to pay the owner off, and hold a longer term loan with the lender. 

Georgia does not recognize that anyhow.

Hi Jonah,On the bright side, at least you recognize some skills/experience you don't have.

Of course I recognize the humor in that statement, (a hard money lender talking about good reputations) but I actually do have a good reputation and am careful to recommend only people I trust. 

Not by waiting for a smoking deal because realistically if you aren't doing a lot of deals you probably wouldn't recognize a smoking deal if you saw it.

I recognize that one can not take a passive loss if their income is over 150k; however, from what I have read, it states that if you dispose of/sell your rental that you can deduct the passive losses the year you sell. 

@Dustin Salmon A Phase I (ESA) will tell you if there are any recognized environmental concerns, current or historical, and if really serious, a Phase II will be recommended.

This way I can recognize potential deals a lot faster and hopefully make money for all of us involved.

Last but not least, recognize that there's nothing wrong with a "good" investment. 

The only type of Deed we do not recognize in Texas is a Quit Claim Deed."