My point in bringing up the fact he continued paying is because he said to me in response to my letter stating he owes the difference in damages above the security deposit amount that he has nothing to do with her anymore, except it wasn't true because he still would write checks directly to me to cover her rent.2.

But, when it comes time to put the deal together and pull the trigger: work with a seasoned real estate attorney with experience in structuring seller carry deals and writing thorough docs that cover your interests, especially with the "what ifs?"

You can set up searches and get instant alerts, as well as open the app to see what's for sale around you using GPS.Keep that investor mindset when buying your primary residence and make sure if you want or have to move sooner than expected you have exit strategies in place such as buying something that will rent and cover it's own mortgage.

You have to really know what you are doing and cover your behind with documentation if you want to try this.3.

You might also consider holding back some of the sale proceeds in escrow until the seller has moved out as agreed.Make sure your insurance covers any work being done while the property is occupied, and check local tenant/landlord laws to avoid any issues.

I have been able to find companies that will cover real estate portfolios on one policy in other markets but no luck in the Florida market.

These have short maturities (typically 3 years) and that means that the timing for a sale or refinance is fixed, and not far enough out to know that you have plenty of time for a market recovery.Evan covered the rest of it well.

Get as long of a mortgage as possible (eg 25-30 year mortgage) to make your payments lower.If you are buying to rent it and won't be living in it, you need 20% for a down payment.Either way, you also need money set aside for closing costs, inspections, repairs and maintenance...and if you are renting it out to cover vacancies.

Adding a 5-10 unit will increase your expense exposure initially until you raise rents to cover costs. 

Hey @Lotus Eli, @John Underwood covered a lot of it, but it really depends on the area.You need to do a lot more if the area doesn't have something else to offer.For example, the big potato.