Also, pick up Master Key To Riches by Napolean Hill, this is by far my most favorite book.

My favorite is when the financial wizards start doing IRR, with appeciation in both price ( not I did not say value) and in rental rates I have a spread sheet I will share

Last year we stayed in a property in Steamboat Springs (my favorite ski area, also an Intrawest resort) and the condo had been updated in the previous year.

This is my favorite- Increase in rent clause (if your local law allows) saying something to the effect of: "Rent can be increased at any time for any reason at the discretion of management by written notice prior to the next due date."

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Rents are fairly strong, and there is the east coast flavor that I miss(from New York many many years ago) I wanted to invest out of state, and I finally did it after 10 months of research in that area( I think the real reason was because I was scared...hahaha) truth be told..

I take them a big tin with different flavors of popcorn and a box of chocolates.

I have done some lease option/lease purchase and it is one of my favorite strategies when selling (especially in the current market conditions).The key to a successful lease option is details you use in your contracts.

Getting sued happens to land on the very top of my list of least favorite activities.

there have been some good response so far, I just wanted to add my .2 cents simply b/c again it's by far my favorite strategy.I only wholesale deals that I've shorted simply b/c if I purchase a short sale for 100k.....and then rent it out blah blah blah, well my cash on cash return is low b/c I paid out of pocket 100k.However............if I take over Sub2 and pay minimal out of pocket like closing cost and maybe a few bucks called 'uhaul money' for a moving van, well then we'll say im in it for 5-6k at the most, then just like you said I make that right back with option money from a tenant buyer and then cashflow every month.