He got burned in the recession with HML and I think he described a new arrangement in which he now finances as a partner.Podcast 222

When the fat pitch comes in, you should be ready to swing for a home run.

My best advice: Partner with someone who has been through this process  ... you could get burned very quickly.Best of luck !!!

Unless you have plenty of cash to burn, and willing to pay over appraised value, good luck..  

that's all I have done my entire adult life since I was first licensed at 18.. there is a difference in being a retail real estate sales person and using a license to further your investing goals.Its not an easy business by any means to be a retail agent and there is a high burn out rate.. not as high as wholesalers but its at least 50%...If your an ACTIVE investor I cant see how you can do without it.. if your fix and flipping in my mind its mandatory.its about 2k a year to keep sometimes less and If your business does not allow that or like some say the cost is to high then in my mind your not really in the business its a pittance to spend to have access to all the info and be in the club.if your goal is to be a lifelong landlord then work for a commercial brokerage that specializes in cash flow real estate just being there will open up doors.if by chance your very good at sales and have a very large warm market you may shock yourself in how much money you can make just in transactional real estate.. 

I’ve seen two fire burn-out properties in the few years I’ve lived here.  

Trash, home back burned down, take photo of exterior damage, roofing, trash in the back yard.

Would you burn the ships again, hindsight being 20/20?

I have worked with her for 6 years and don't necessarily want to burn any bridges, but at the same time want to legally arrive at the lowest tax bill possible. 

Everything you experienced with this tenant, let it burn into memory and let it be a lesson learned.