Other people will have a short lease and then a ton of addendums attached for pets, no smoking, late payment penalties, 3 strike policy, parking policy, and so on.

That strikes me as odd since most angel investors I know about shoot for 250% on their money .

Just imagine telling HD that you have a three day window to lay new carpet starting in two days; they aren't that flexible.We replace carpet with almost every tenant, and tenants don't generally stay more than a year before disaster strikes them, so we get the low income landlord special, the cheapest they have.

But, if I were to come across a stellar deal, I'd strike!

I assume if lightning strikes the day after I take over the property, the only person that will receive the claim proceeds will be the lienholder and then I'm left with a hole in my pocket.

It's just food for thought that if someone says ( Hey I am a new buyer, have little to no track record, have to pool money to buy property, and want to keep my options open,etc.) that's an immediate 3 strikes and your out buyer to 99% of commercial brokers.  

@jeff @Jeff Smith   Once again the naysayers strike...Pay no attention to anybody who tries to step on your dreams Jeff.

Upon completion I will ReFi & pay my HELOC back so I am ready to strike quickly again.

The key is to have your goals clearly defined so when you see the opportunity you can strike fast.

You can't jump into rentals and think you'll strike it rich.