A popular strategy I've seen work is to scale with properties in the C locations and then slowly upgrade your portfolio into the nicer asset classes as you progress and become more cash flow heavy. 

My idea to buy a home is to get an 80% LTV 1st mortgage from a bank, take over that mortgage and give the seller a second mortgage for 50% of the 1st mortgage balance because I need some cash to cover the payments, which the amount of cash would be more than the remaining equity in the home.

Their guarantee to cover the mortgage if they don't rent the property is a red flag, too.

I got my first one with a 5% down while the tenants were covering almost all of my mortgage.

The one to four is a very comprehensive contract that covers everything and even has room for special provisions when something out of the ordinary needs to be spelled out.When doing not so normal purchases like a sub-to, I dont use the TREC, but one that I created from several other contracts.

Otherwise get a glass or plexiglass cover made for the top because not everyone will use coasters.

Seems like a lot of folks prefer SFH, but I bought a Townhouse because it seems like it is easier to maintain (HOA covers external, landscaping, and neighborhood amenities).

A lot of section 8 renters go straight to their case workers with issues like this and it becomes a lot bigger deal than it needs to be.Just do the treatment, cover up the holes, and move on.

Well you received reply's from the top heavy hitters in the passive game here on BP.choosing wisely is key as noted.. real estate debt can be a great spot for the busy professional.

I decided to keep the house and rent it out, currently I’m out of pocket almost $1300 to cover for mortgage.