And then you have BP and an army of experienced investors happy to answer your question or poke holes in your deal before you pull the trigger..Be honest with yourself, are you looking for moral support?

Get a feel from them to find out what kind of fee they could get you.Are there any event planners in Amarillo? 

You have to know the market before you build a plan and I don't think this market supports your intended plan.

(No mortgage on any).the cash flow is a total of $3,100 a monthDo portfolio loans exist for these kind of situations?

Having local family gave me a built-in support system, market familiarity, and the confidence to manage a property from a distance if needed.

I find it hard to believe there won't be access to some kind of REI meet up somewhere around most anyone these days.I would suggest going to as many REI meet ups as possible.

Rifle bullets fly well beyond what you could be legally supported.

I always remind myself that it isn't personal and that I chose to sign up for exactly this kind of work (managing difficult tenants).

Add that to the $1.2M and we get a total ask of $4.7M.The $400,000 in earnings could not support that debt service and he was unwilling to lease the real estate to the new buyer. 

However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out.