So far, my normal guy has quoted me $15,000 for labor, trash and debris removal and equipment rental (no materials included).

I've done a few deals where the bank offered purchase + rehab funding up to 75% ARV, and then it converts automatically to a normal mortgage loan at the end of the rehab. 

"I'm at the point where I've gotten out THE lease and it doesn't have anything about locksmith, however the maintenance, repairs section states, " All normal repairs necessary to maintain premises in a tenantable condition shall be done by or under the direction of the landlord, and at the Landlord's expense, except those caused by negligence or acts of the Tenant, which repairs shall be made at the sole coast of the Tenant. 

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

It is very normal to buy a home with other debt, especially at your income level.

I paid him the normal closing cost, a few $ grand in fees, and a slightly higher interest rate than I might could have gotten conventionally. 

This implies that if I had confidence of better than normal appreciation or ways to add value, I would purchase a negative cash flow property.  

Apparently, the guru had been selling the ownership of these high cash flowing properties as a “absentee” lifestyle, travel 3 1/2 weeks every month and so basically bookkeeping the other 1/2 week.  

No one  (aside from ideologues) seriously considers bitcoin a currency anymore, and there are secure ways to store your bitcoin using hardware wallets but it's tough to convince normal people to do it which I think will hamper it's adoption.

I have yet to do my first deal, I know it takes hard work, but they made it seem easier and better than going the normal route and than what it actually takes to get your first deal or at least started.