You mentioned ultimate goal financial independence so have you really defined what that means and how you want to get there?  

There is about $50,000 in repairs that need to be done but he is including a $50,000 "gift certificate" to cover those repairs, which is pretty sweet.I definately know I can make a profit fromt his home when I put a buyer in it, but how can I convince him to go down below $1M?

Can someone define OTA?

I just know that from experience it gets messy really quick if things aren't clearly defined on paper. 

Also define is you are looking multifamily, flip, BRRRR, etc.

I recommend you start out defining what you want, develop education in that area of expertise, and attend local real estate socials.

@David Sray Have you defined your investing criteria, how does it look?

This indemnification agreement does not waive Owner’s Agent’s duty of care to prevent personal injury or property damage when that duty is imposed by law.Resident May End Lease Early:Resident may end this lease before the end date of the lease or any renewal term only with written permission from the owner and only if: (A) Resident gives owner minimum written notice as defined in the lease end notice procedures, AND (B) Resident pays owner a minimum Early Release Fee of two months’ rent, plus utilities during the required notice period, OR (C) Resident continues to pay all rent and utilities until the end date of the lease or, Owner secures a new resident to take the place of the current Resident, whichever occurs first.

@Michael LaVan You need to define "HOT" to get a good answer.Rentals are great in the Midwest (KC St.

I would recommend discussing with an attorney a LLC where you are each 50/50 partners and a strong operating agreement so you both have clearly defined roles and expectations.