It's a very high risk and reward process.If you haven't yet, search for "auctions" on BP to read the pros and  cons.

This was a surprise because we were told they numerous times they had been.For every project we had received invoices for permits.Looking back me and my partners were very ignorant and stupid not to check for a license number.The project we are currently doing, the 3rd deal we immediately stopped and are now hiring a real licensed contractor.

The great thing about joining  is the numerous classes and events they offer ( many are free to members).

Some background: my friend is a tenant who has been living rent-free in a unit for over ten years but is a professional painter and has been painting numerous properties/units for the landlord in lieu of rental payments.

I’ve read numerous real-estate investing books and habitually read and listen to Bigger Pockets daily.

I lsot 80k on one deal I Corvallis a few years back.. ( Oregon State).. but heck that's what being a developer builder is all about.. big risk big reward.

Martin that networking and developing strong relationships is a key first step and that those efforts with networking will likely be rewarded with these kinds of amazing opportunities.

I can offer a list of services I would expect:Leasing fee covers:PricingMarketingMedia advertisingMember of Multiple Listing Service  and syndicated to numerous internet marketing toolsRealtor referral networkOn-call 24 hours including weekends and holidaysShowing, screening and negotiatingCredit reportsThorough background checksDocument preparationManagement Fee Covers:Move-in/move-out coordinationMove-out inspections with digital picturesEnforcement of lease termsTenant public relationsTimely rent collectionComputerized accounting and property management systemsFunds managed by a trust accountTimely disbursement of funds to ownerMonthly statements covering all activityCPA ready annual consolidated statementsScheduled property surveysMaintenanceProperty Repair Services24 hour on-call service for emergency repairs including weekends and holidaysRepair “help line” service at no costReputable maintenance personnelVolume pricing on supplies and servicesSpring A/C service and lawn treatment at owner’s optionUpdating, decorating and refurbishing if desiredInstallation of security devices (locks, etc) as required by law

Also remember, there is no reward from not obtaining risk, so don't be scared to take MEASURABLE risk.

Now these are the options lets paint a little picture... when it comes to market investing, holding for a long time no matter the risk/reward of the stock, usually equalizes the return because over a longer holding period the ROE usually ends up in the positive.