See if the Seller will finance with a minimal downpayment.2.

As Nathan suggested, I'll learn a lot more as I go, but what currently resonates with me is minimizing tenants rather than maximizing RoI.Tim and @Adam Tafel, I will be reaching out to you.Thanks again!

You have the usual causes like drugs/alcohol problems, mental illness and then you have the working poor who remain homeless.

Having the ability to live for free, while minimizing the taxes on my W2 income.

So minimal impact to credit during the rehab process.It appraised for $173k after rehab, refinanced and paid everyone off including the seller, and walked with cash to do my next deal :)

If the guidelines are clear before they sign the dotted line, there is a mutual respect, and a good vetting process is performed I think I can minimize tragedy.

@Thomas Sheehanonly you can decide what makes sense for you financially, but I would not put $200-250K into a property to generate minimal cash flow. i look to minimize my outlays when I purchase.

Likewise, I’d need to work out how prospects would tour properties safely, legally, and at minimal expense.

I work in WA, not IL.Sounds like similar facts - you need to be licensed if you are going to manage other folks' property.Here, you need to hang your license under a managing broker until you can get your managing brokers license, as brokers can't touch money and do a few other things legally.If it's like WA, you will have to hang your license under a managing broker at a brokerage, and coordinate deposits, contracts, fees with them.If that is the case, ask some brokerages that will allow you to hang your license under them for minimal fees in order to be compliant.

Borrowing cash from another source does create a lot of risk so make sure to stick to your numbers and make the deal happen where you minimize that risk.Another option perhaps not mentioned is a wrap-style deal subject to or seller financing.