The 70% LTV implies to pull your money out you typically need sweat equity of 43% of purchase price.  

Not trying to imply anything, I just genuinely am interested in learning more about this strategy.

@Corby Goade, didn't mean to imply that you strong arm a tenant into paying online, but in CA you cannot require a tenant to pay online as the only option. 

Her property tax bill would imply that it was a $96,000 property, but it would have been the height of hilarity had someone offered $96,000 for it. 

So the 50% rule is a rule of thumb that implies that you would need about half of the rent (50% or $325) as reserves for vacancy, repairs, capital expenses, and possibly management.

Here on BP I've read lots of stories of challenging situations that were made much worse because agreement were verbal or even just implied.

Mat Sorensen posted a good article at the link below, and implies that a manager of a Reg D fund might be considered a fiduciary if you run a private fund, or a start-up, or a real estate partnership and if you take investment dollars from a retirement account. 

And in the future be careful about being too friendly with prospects or even worse, implying they might get the rental.

All of our interactions have been through email, and we've gone back and forth on price and he's kind of ignored the seller financing and I think it's because he wasn't understanding what we were implying and so finally in the last interaction we spelled it out and said we'd be happy to meet with him and discuss and he has agreed.So here's where I need you BP!

Hi all,As the title implies, I am looking for advice / opinions as to what areas you would consider ideal for a beginning investor.