As a new note flipper and new note investor, I've gotten my 1st note flip deal under contract yesterday w/ my note buying instructor & mentor Donna Bauer that is secured by a property in TX.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I knew there were others out there going through the same thing :) I agree- we've been able to work with investor-friendly lenders to secure conventional loans that allow us to buy properties and honestly, i've never really leveraged credit cards for RE or RE related purchases so this was slightly new territory for me.

I’m looking for some guidance on my next steps toward achieving financial freedom through real estate.My long-term goal is to acquire enough rental properties to secure my financial future.

A minimum of 10-15% down is required though Thanks, sent a private note to learn more.   

If tenants are moving out right after closing, do double check the leases clearly show the security deposit they paid the seller and you collect that amount at closing from the seller (credit to you) so you have those funds to then return to the tenants when they vacant under your ownership. 

Maybe they could do some sort of private reverse mortgage?

The loan can be called, but in the 45 years I have been doing this I can only recall a handful of cases and it usually was Credit Unions or private money lenders.  

There are some forms of income that do not require any receipt to use which are some of the above (full time job just offer letter or ownership of newly acquired rental property (lease agreement + security deposit/rent proof only).If you dont plan to go back to full doc then stay in the no income/state world and the premium for these products varies between 1-2.5% higher than full doc fannie/freddie/FHA/VA rates but pros and cons right?

Also - you probably wouldn't want to close on the property without insurance as you would also lack protection.What is the reason you can't secure insurance?