Then once The tenants family gets his crap out I get them to sign off tenancy and all possessions that day .I then clean up and burn or throw out anything left .

I have funds to do a few deals but don't want to be burned again and have my funds tied up for 3-5 years without any income. 

@James Free If you don’t trust insurance companies (who will be on the hook to pay for the damages of something occurs) then ask a couple local contractors to give an estimate to scrape a half burned house off its foundation and rebuild it.

BUT after doing some due diligence on the home, these are the conclusions: Home is a burn-out.

If a property burned to the ground and you were left with a vacant lot, what would the value of that lot dictate that you rebuild?

Another example is it wont be their fault if the house has gutters and leaves clog them up and water backs up into the roof because it was not stated they were responsible, or if the property has a fire place and the house burns down because the chimney was not clean sweep by them or you before use because it was not designated responsibility.

Anyway this is the sort of practice that will hurt the industry overall because people will get burned if market forces don't bail this guy out.

I am new to real estate investing and so glad to have found such an incredible group of smart, talented and helpful people.Real estate investing on this level is new to me but I have always had the burning interest to one day really dive in.

You probably won’t become financially independent in 3 years.... especially going turn key... set realistic goals and go from there otherwise burn out is highly probable.

Having a solid foundation is key, adding significant value to every deal allows you to grow,  I would say with your $50K go out and do a rehab and make $30K on a flip so you can add $20K to your $50K  ($10K set aside for taxes) do it a few times so you have a great launching pad and rehab experience for the rentals. dont buy turn key rentals, always buy below value, and push the equity with a rehab, and right now in the market cycle, only buy great deals, marginal deals will burn you when this market changes.