If the seller has any indication that they can get enough to cover the mortgage balance and commission, they will not short sell. 

This would indicate 2 contracts between these two parties.

If the PCR report indicated any issues such as the plumbing not holding pressure, you will not be able to get the water turned on.

And if it’s “timber to breakeven for 15 years because I think this is were the path-of-progress will take growth” is yet another educated risk/reward decision.I just cringe when I hear a rookie say “buy land” because (to me) it’s indicative of a.)

Be sure you’re getting estoppel letters signed by each tenant indicating their current rent and security deposit along with leases.

@Jim RobertsonYou should look to see if you are required to file a Texas Franchise Tax ReturnThe instructions indicate that corporations are required to file the return. 

Seller already verbally indicated that he consents to return deposit.

This picture is pretty indicative of a lot of newer areas of Charlotte.Given my affinity for math and research, I decided to pull property sales and tax records on these 13 rentals, and sure enough—11 of them are owned by national REITs.The average length of the listings is about 50 days.

The wife has filed for divorce and the tenant has sent me an email indicating he has moved out. 

I would go even further to say that the downturn here locally is still a ways off and you can miss out on making a lot of money by sitting on the side lines for the next year or 2 (as there is zero signs of slow down over the next 12 months from all the indicators I follow).