At the bottom of the cost breakdown page there are General Components; Permits, Termites, Mold, and Miscellaneous.  

I recommend you start out defining what you want, develop education in that area of expertise, and attend local real estate socials.

@David Sray Have you defined your investing criteria, how does it look?

This indemnification agreement does not waive Owner’s Agent’s duty of care to prevent personal injury or property damage when that duty is imposed by law.Resident May End Lease Early:Resident may end this lease before the end date of the lease or any renewal term only with written permission from the owner and only if: (A) Resident gives owner minimum written notice as defined in the lease end notice procedures, AND (B) Resident pays owner a minimum Early Release Fee of two months’ rent, plus utilities during the required notice period, OR (C) Resident continues to pay all rent and utilities until the end date of the lease or, Owner secures a new resident to take the place of the current Resident, whichever occurs first.

@Michael LaVan You need to define "HOT" to get a good answer.Rentals are great in the Midwest (KC St.

I would recommend discussing with an attorney a LLC where you are each 50/50 partners and a strong operating agreement so you both have clearly defined roles and expectations. 

what do you define as "competitive?"

@Christy Wright assuming you have the net worth and liquidity and the property is in a decent market you should easily be able to fit into a 30 year am deal with an interest only component.

For those wanting more info please see 696.020 that states a real estate license is required for professional real estate activity which they define under 696.010, #17.

Found a previous BP discussion here.Very helpful info here from attorney Robert RowleyThe WA Supreme Court found a mortgage broker guilty of buying "under duress" as defined under the DHL for helping a homeowner save a property that back taxes even though he had not even received a certificate of delinquency!"