Looking at the numbers CAPEX and repairs add a huge amount to the monthly expenses.For instance, this third deal:Monthly Income: $1,100Monthly Expenses $1,134.14Monthly Cashflow: -$34.14Pro Forma Cap: 5.22%NOI: $5,215Total Cash Needed: $11,050Cash on Cash ROI: -3.71%Purchase Cap Rate: $5.73Sale Price: $91,000Closing Costs: $2,500Renovation Costs: $4,550 (5%)TOTAL PROJECT COSTS: $98,050Down Payment: $4,550 (5%)Loan Amount: $87,314.5Loan Points: $864.5 (1%)Amortized: 30 yearsInterest Rate: 5%P&I: 468.72Total Cash Needed: $11,050Property Taxes: $2,184/yr2% Rule: 1.13%Initial Equity: $12,685.50Gross Rent Multiplier: 6.89Debt Coverage Ratio: 0.93Expense Increase: 4%/yrIncome Increase: 5%/yrProperty Value Increase: 4%/yrCash on Cash ROI: YR1 (-3.71%) YR2 (-0.63%) YR5 (2.64%) YR10 (9.76%) YR15 (31.56%)Annualized Total Return: YR1 (2.48%) YR2 (22.27%) YR5 (26.37%) YR10 (26.47%) YR15 (22.20%)Total Profit if sold: YR1 ($274) YR2 ($5,469) YR5 ($11,251) YR10 ($24,701) YR15 ($70,982)Expenses:HOA: $82Insurance: $66Taxes: $182MTG: $468.72 (@5%)TOTAL: $798.72Vacancy: $110 (10%)CAPEX: $190/mo (~2.5%)Repairs & Maint: $380/mo (5%)TOTAL EXPENSES: $1,478.72These expenses are different than the $1,134.14 mentioned early on.

For instance, if I was to find a good real estate deal and I convinced another investor to contribute 50% of the  funds, would I have to provide a contract to basically say I wasn't going to steal his money?

For instance, you say you aren't interested in house-hacking, but that you're eager to get started.

For instance West Virginia has a reciprocal agreement with Virginia....but will refuse to issue a license to a Virginia licensee that lives outside Virginia, even though no law or regulation states that they can or will do that.

In instances of purchase of property, lease is executed subsequent to buyer entering into a rental lease agreement with inherited tenants.This agreement is preceded by review of due diligence documents provided by seller to buyer.Tenants acknowledges that Agent is entering into this Lease in reliance on the information contained in Tenant’s rental application and or all other information provided to Agent by Tenants or Tenant’s current landlord/property management team in the event of a property sale, all prior to this lease agreement.

When I was going through school in my early years, I found that the best skill to learn was how to learn itself.If you can do that correctly, combine it with books and the internet, you can wind up making the world your mentor.BUT, I can see there are certain concepts that might be counter-intuitive to my personal opinion.For instance, I keep hearing that the best way to learn is from making your own Mistakes.I try to see the other side and I do know that when you make a mistake, it's most likely you won't repeat it... but why must you make the mistake when you can learn from someone else's mistakes?

For instance someone informed me that attaining a property with a tax lien could = a great deal.

You're much better off with a 401k in these instances.

There are instances when you ask if a task was suppose to be done by yourself or your agent.Do you guys (Agents/Investors/Buyers/Sellers...) have a checklist of tasks you perform when buying/selling?

In this instance this woman has been a homeowner (and previously living in a new house) so there are two strikes against her liking being a renter and living in an older place.I do like the suggestion that, if she continues to be a royal pain in a low spot you either consider offering to let her buy your house (if you are interested in selling it) or offering her the "Happy Clause"; however, in doing the latter you'd have to return any unused rent.