@Jason Dubon I use a percentage of the rental income to prepare for expenses.

@David Robertson Being a wholesaler might have helped you with industry relationships but by no means prepares you to invest the money of others.

I wasn’t prepared to lose so much of my savings as carrying cost basically I paid for the tenants to live there for 3 months + my own living expenses in that time.

I'm trying to prepare incase this is true.

However, it’s important to price competitively and be prepared for buyers to request concessions.

I believe that you don't get returns (failed to deliver) with bulk mailers so you don't know which addresses are bad.That's the simple stuff.My advice is to do various mailings that you or some prepares locally, that go out immediately, using 1st class postage.

I’m excited about the opportunity but want to make sure I’m fully prepared before moving forward.

Also, you need to be prepared to screen prospective tenants yourself and verify vouchers before committing to lease.

Let me know if you plan to make it so I can let the owner know and he can make sure they are properly prepared.

There were several mistakes made on my tax returns that I pointed out, which required going back and forth with their tax preparers, and asking repeatedly to cut to the chase and have a phone call.