As pet lovers ourselves, we typically like to meet your pets at some point in the process, too.

In that process, I got my real estate license to buy the house and save on fees. 

A private investor will want to see a few successful deals before taking out large sums as a debt loan.

- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

If everyone I had cash flowed 1k a month while I still had a mortgage, I consider it a major success because so many are not hitting that.

My goal is to gain a solid understanding of the process, master deal analysis, and ultimately close my first deal.Right now, I’m focused on learning the basics — from finding motivated sellers to building a strong network of cash buyers.

Points and loan details are TBD still as we're just getting the tentative process down on paper as we wade into the details. 

Congrats on getting the home and starting the process.

Your first couple deals will be important, they will set the stage for your success.

Quote from @Cynthia Lee: Accepting even $1 could be seen as evidence of a payment plan, and the entire eviction process could be derailed.Once you start the eviction process, to not accept any payment unless it is a full payment in certified funds (cash, money order, cashiers check).