@Wendy Patton thank you for your advice.

@Wendy Patton and @Jay Hinrichs with the no equity deals you both mention.

Patton

Watch youtube videos from biggerpockets, thesheashow, 100 percent financed, tax lien lady, reiclub, wendy patton, heather coley, commercial real estate show, scott Meyers, the note queen. 

@Ryan Patton Welcome to BP and I look forward to meeting you at one of the REIA meetings in Pensacola.  

Wow.... that's hard to nail down to a single thing because there are so many things that, if done wrong, can result in the collapse of the entire business.I guess I would have to say the single most dangerous pitfall would be failing to create a comprehensive business plan/model that provides a solution for everything that will need to be done..... as well as anticipate market changes which require adjustments to your business model.There's a famous military General (I think it was General Patton) that was credited with being a military genius because he gave immediate and specific commands for every scenario the battlefield threw at him.

Wendy Patton has a good book on Lease Options and Subject-To deals, and Peter Conti & David Finkel Have one called 'Buying Real Estate without Cash or Credit.'

I'd recommend these three:- Michigan Real Estate Investors - Great REIA run by Wendy Patton of Lease-Option fame, meets in Troy, http://www.michiganrealestateinvestors.com/- Renegade Detroit Investors - Another great REIA, run by Jeremy Burgess.

@Kristi Patton I did do it once for thirty days as a trial, but did not find it useful.  

@Kristi Patton  Just a quick note, insurance coverage is regional(state specific), meaning, the rates are associated with your particular region and other factors (weather, etc).