The vast majority of newbies fail in a short period of time.

I'm just thinking out loud here.I'm assuming that as long as a sufficient percentage of the rent covers the mortgage, taxes and insurance, then this wouldn't hurt my chances of acquiring a second mortgage for the purchase of a property in Florida.

I would like to know what disclosure forms you all use with homeowners when pursuing a short sale (example- homeowner 1099 tax implications will arise the following year. what are things a homeowner will need to be aware of and acknowledge in writing, in order to protect myself as well as inform them sufficiently.

This is EXACTLY what causes the vast majority of new landlords to fail in such a short period of time.

The truth is that the vast majority of newbies fail in a short period of time.

The vast majority of lease option (and land contract) buyers never buy the property because they're really nothing more than renters to start with.While you're waiting for the lease option "buyer" (someone with bad credit but a big pile of cash) to show up and "buy your house", you could have simply been renting the house to a tenant.

The vast majority of newbies fail in a short period of time and the number one reason is lack of cash flow.

The vast majority of lease option "buyers" never buy the property.

It is possible for the national index/etf/itb to be soring and the city/town in which you hold your properties just lost a major employer or vice-versa.For most real estate investors your best hedge is to buy your properties well - when performing diligence model the property with rent set under market, a sufficient allowance for vacancy & bad debt, and realistic to conservative operating expenses.

And I didn't start making a high income until late last year, so have less than a full year's proof of sufficient income.