The only way this could work is if you currently are his property management company (or you get him to sign you an exclusive to it).With all that being said, I'd prefer going after other deals that are clean and where at first glance creativity at this level is only a plus.

Probably not.So, it boils down to defining your goals, and finding investments that fit both your financial AND your other goals.For me, a deal is good if:- I can generate at least 50% annualized ROI by the end of the project;- I can generate at least $1000/hour on my time (so, a typical $15K profit flip, I'd spend less than 15 hours of actual work);- My risk level is such that I don't lose any sleep and my total worst-case risk is less than 10% of my total net worth;- I can decide where/how I want to spend my hours (i.e., the deal won't fall apart if I decide to take the weekend off or spend the day at the park with my family).For me, a deal has to (at minimum) meet those criteria for it to be considered a "good" deal.I'm not saying I'd never do a less where the criteria didn't come in less than that, and I'm not saying that I wouldn't trade some aspects of the deal for others (for example, taking on more risk for a small amount of time for the opportunity at greater profit).Just my $.02...

Actually, I prefer vacant houses with no sign whatsoever - yes, I find them by driving around.For AOs, out of state is better, but we send to in-state as well.

This general problem will persist with a future tenant, but the owner doesn't understand the problem so much as he is able to sleep soundly on the upstairs level. I

So what is your thought on "Should taxes (Federal Income Tax Rates) be raised or lowered, both at the individual level and the corporate level?"I

He maybe lied when he absolutely shouldn't have, but he is a very good dude on a personal level. I

I think I am a little control freak, so I like to be on top of everything, may be because I haven't been screwed by a contractor before, so my trust level is low with contractors.

Without knowing the size of the HOA I would check to see if all their documents are in compliance at the state level. I

So while an O/O might get in the 3% we are talking about a O/O with high LTV.

I'm not sure what the "next level" is.