Quote from @Andrea Lee: Hi all,I'm set to close on my first property ever next week in Cleveland Ohio.

One other thought is ask your lawyer that you are using to close on the property - he/she may be able to give you a template of something they use.

I'll be keeping close tabs on that event forum!

I'd like to keep things relatively close as we get started, perhaps grow out once I get my processes and systems nailed down.

I have a lead on a property very close to the University of Akron that makes a lot of sense for me.

For me, start with either the property who's lease expiry is furthest out in the future OR property that has seems like it will be easiest to manage.3) From what I have heard, rent has really moved upward in GVSC - I'd call a couple RE Agents or property managers that have rental listings in the area and tell them your situation / ask them to send you closed rental comps.

I paid both sides of closing costs. 100% seller finance, 5% interest, amortized over 23 years, with a balloon payment of the principle balance due after 30 months.

To get any cashflow I think I need to be looking for something around $250K, that doesn't need a lot of up front rehab, to give me enough extra for closing and reserves, and in a submarket that will gross 3000/m.

I'm closing on a house that used to be a single family, but was converted to be a duplex.

Expect very low LTVs (we're talking like 40-60% down minimum), much higher rates, and very long close times for out of country financing.