I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.

Then an appraisal works to my benefit and the quality of the property would be very close (as I said the property I purchased had relatively cosmetic renovations such as painted cabinets).

(Maybe the seller has a great interest rate, but you would have to pay twice that amount which wouldn't be profitable.)11) Crime in the neighborhood. 12) High turnover in tenants (raising your expenses.)

If you need an attorney group to help you structure the right entities for you, we use and highly recommend, Anderson Business Advisors who made the video I have linked above.As for the pet question, all the stats listed above are why we allow pets unless a homeowner insists a no pet policy.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Typically the quality of applicants in the winter months drops substantially as well. 

If you are able to lock up deals and you mess up the repair estimate (like most wholesalers), no one is going to buy it and you will be buying too high.

I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes. 

They also have calculators to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I highly recommend going with a LOCAL LENDER ie in the same state, and preferably from the same area of the state you are looking.