deals 7 and 8 had a partner - he found the home, I fixed it up, managed the rehab, he sold it, we split the net profit...these were ok deals we split $20,000 on each deal but they took 5 months and 9 months respectively due to issues with contractors doing shoddy work....so if you figure our profit at an hourly rate these were not barn burners...but hey it's $20,000 I didn't have before, so I am fine with that#8 paid $265K used hard money, spent ZERO on rehab, wholesaled it in 12 days for $360,000, that was a nice one (sad back story on this one, owner of the property was busted for selling drugs and arrested, then deported to Mexico, so wife took over the drug selling biz...then she got popped, in order for me to be able to close on the home, Escrow had to go to the jail to have the wife sign, then hire a mobile notary to drive down to the SD/Mexico border to have the husband sign) death, divorce, drugs, disease....the 4 D's that create real estate opportunities, sad but true#9 paid $205K used hard money, spent $25K on rehab, sold for $300,000#10 paid $90K for 3/2 SFR, used hard money, spent $3500 on rehab, rented out for $800/month, slight negative cashflow currently (-$150/month), market value is $130K now, plan on refinancing into better loan in 3 months, will cashflow $300/month after the refi#11 paid $108K for 3/1 SFR used hard money, spent $3000 on rehab, rented out for $850/month, slight negative cashflow currently (-$190/month, market value is $140,000 now, plan on refi into better loan in 3 months, will cashflow $150-$200 after the refi#12 paid $125,000 for 4/2 SFR used hard money, spent $0 on rehab, house already had a tenant in it paying $900/month, will be raising rent to $1150/month, market value is $160,000, plan on refi into better loan in 3 months, will cashflow approx. $500/month after the refi#13 invested $50,000 with my parents to buy a triplex, for $530,000, property cashflows $1000/month from day one, and value has increased to $650,000--------------------------------in current pipeline/in escrow - thru these deals I've made good friends and I've made my hard money lender some good money, hard money lender let me know he has $5,000,000 +/- sitting in the bank looking for houses to invest in, and he's given me the green light.

Even if you think you find everything you still have to do a formal title search prior to any closing so they'll find it.

I put a roof on the house and a new sewer line (about another $3,000), and carried the note to the tenant for $400 a month for 30 years.Both of these houses were in border line war zone areas.As for multi-dwellings the lowest I've gotten down to is $7,000 per unit.

A Judge will not interpet that moving out is the same as giving a formal 30 day written notice.Not legal advice just what I have seen in my area.

You will need to formally evict them and hope that they do not trash the place on the way out.

Now that you have your formal education completed, you can go out and get your "street degree" in real estate investing!

Would a formal intent to purchase letter with intent included suffice?

The one bit of advice I've got for you is to be sure that you have a formal agreement with your partner.

I'd build a huge fence on the border.8.

Those six traditional forms of covenants can be broken ...http://encarta.msn.com/dictionary_561503550/deed_of_covenant.html deed of cov·e·nantnoun Definition: U.K. signed agreement: a signed document by which somebody formally agrees to make payments for a period of several years to a person in specific circumstances or especially, formerly, to a charity.