Licensed means having a real estate sales license, But acting as a principal instead of as an agent.If you buy as a principal buyer you are not “acting agent for.”If you buy for cash or sub 2 or on a wrap, a license is not mandatory but it’s hard to get agents to work with you. 90 per cent of properties are sold via agents.Selling on rent to own it’s helpful to have a license, especially if your state requires a license to show properties that you do not own for rent.Getting a license help get respect from everyone, especially lawyers.Get the license but work with your lawyer and act as a principal________________________________________________ #1 Biggest mistake in real estate investing: ready, fire, aim #2 biggest mistake: not understanding how to talk to sellers.Here’s what I mean by ready, fire, aim.You study all this marketing for motivated seller stuff, how to find motivated sellers, spending money on yellow letters, postcards, scouring the MLS, talking to agents, etc.Then you get a phone call, and you choke.You don’t know what to say,you don’t know your marketplace,you’re just trying to get a quick deal done.So that’s the 2nd biggest mistake, not understanding how to talk to sellers.Let’s talk about real estate agent’s listing appointment training: This is How agents are trained to get the listing, how excellent their marketing is, how great their negotiating skills are, how good their team is,is NOT necessary to talk to sellers about terms deals.

I have a greater respect for for peace of mind as a result of my experience.

These are coming in at 1.2% and 1.6% respectively for the first two and this one will come in at 1.3%.  

Inventory is tight here....as it was before the crash and yet I have done very well on my 2 primary home purchases over the past 18 years with both doubling in value over 1996-2002 and 2002-2015 respectively.

Clearly the existing financing will need to cash flow if you don’t intend to refi, but beyond that, what would you be looking for with respect to a seller’s marketing profile?

With respect to providing BPO/CMA for cash/gut/off market deals, I would only do BPO/CMA to determine an ARV. 

Respectable numbers by any measurement.

This way you are not bleeding the lot rent monthly in addition to making repairs and marketing.Everyone here respects your ambition and determination to move forward in this niche rain or shine.

Professional ethics is based on accepted conduct and practices established within an industry or profession to ensure the public as well as others in dealing in that area are treated morally, respectfully, fairly and equitably, in carrying out professional activities. 

I would immediately set up a meeting (offer lunch) to introduce myself and lay out my intentions for the unit and describe a responsible, respectful and benefit to the neighborhood- type of tenant I am looking for in the unit and my hopes that they are that type.