When you are just starting out, all you need is good insurance and stable and steady enough income to not worry about defaulting.

Without question, do not open escrow or transfer funds without going through a Real Estate Law Firm. 

To thrive in real estate investing, you must maintain a firm grip on your finances.

Also if they do accpet appilcations you need to have experience in BPO's and have all your ducks in a row to start listing, i.e. e&o insurance, licnese information vendors you are going to work with to change locks, trashout and property preservation.

.$135k firm counter from seller and needs $40k rehab.

Work directly with on-site Construction Project Manager to insure project construction is per plans and specifications from start to finishProvide supervision of sub-contractors on project siteAssist to ensure construction activities move according to pre-determined scheduleCommunicate effectively with SubcontractorsDaily inspections and presence on project siteIdentify any project design and construction issues and bring to management team.Oversee and report progress of project against project plan scheduleCoordination with Construction Project Manager, all necessary work flow schedules and monitoring of same to insure all deadlines are metInform Management Team of work progress and of all significant matters relating to the projectDevelop strategies to promote efficient and cost-effective work practicesAbility to step into and perform duties on an existing under construction multi-family project.Recommendations will be required.Thank you,Anat

If it ain't broke don't fix it.You have a mortgage and insurance.

I offered 8% interest only, but firm (so if I did not have a deal and the funds were sitting idle, I would pay the 8% out of my W2).

Before maintenance/cap, insurance, misc 107% of rent. 

It depends on the laws in your state, the agents and clients comfort zone, as well as insurance.