This would be a ten year initial commitment of my IRA converted Roth IRA dollars.  

With regards to issues involving the contract, it's literally "Charlie Brown teacher" to my ears.Also, only offering MTM leases allows you to more easily mitigate a tenancy where someone is acting incongruent with your initial impression of them.

It's wonderful to see someone so young take the initiative and the risks to build something for themselves.

This was a great way to begin my journey, as my initial motivation for obtaining my real estate license was to purchase my own home, which I successfully did this year.Now, I’m embarking on a new adventure as a real estate investor.

Online is ok for making some initial connections, but you would want to really know who your partner is to see if you want to be in a long-term partnership relationship with them.

The good news is that once you gain some traction you can hire a VA to help with the initial calls (either part time or full ). 

Text and verbal agreements are legally binding in Virginia (where the rental is).I really believe she initially intended it to be a year long renewal, as she also remarked she was very happy, as it is only a block walk for her daughter to school.She now has a boyfriend (he hasn’t moved in), and a house they want to move into together, so she is giving notice.

I've purchased properties before as a residence, that were in negative cash flow initially, which are doing great now.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

With the refinancing proceeds, you can pay off your initial loan and use the leftover funds to purchase your next property.5.