My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

People staying for 30-90 days are a completely different customers than someone in a years lease. 

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

If I was the buyer's broker, I would have checked myself to protect my client.If they had, then they would have found out it was not a three family.

In France, they sell wine.They identified their customers (in your case, reliable tenants) and provided what they wanted to buy (rent).SummaryFollow this proven, step-by-step process to maximize your chances of success and minimize risk in real estate investing.Has this process proven successful?

A professional property manager should handle the heavy lifting, ensuring your investment is protected and profitable without adding stress to your plate.

Very conservative approach that protects the seller.There is a long thread that covers what I'm talking about atPace Morby Mentorshiphttps://www.biggerpockets.com/forums/79/topics/1001612-pace-...  

The target customers are the unbanked and underbanked population, which is 30 million household in US.

I have a ton of customers in CA that have purchased in all over Middletown, OH.