Let me give you my perspective from renting to college kids for over two decades.The ones who have some skin in the game, as in _having_ to work to pay for some or all of their education get 'centered' real quick -- either realizing that college is not for them or buckling down and working their asses off to reach their goals.Unfortunately, the majority of students I've come into contact with are getting a degree in 'party' and are simply squandering their time and their parents' money.

If you are the type that would rather bring in an expert that make cold calls or create a marketing campaign or manage property or fill vacancies or all of these or whatever else and the person you are learning from is a complete and total do-it-yourselfer, I don't care how motivated you are, the person teaching you won't make you a successful investor.

Christy,Do you invest just in Murfreesboro or all over Nashville.Joe Gore

Then write up a For Sale By Owner contract and close it with financing or all cash or whatever with an escrow/title company.Give the current owner some money so he's willing to cooperate with you if need to.

Is this just Chase's policy or all banks and is this typical of other types of mortgage lenders these days?

@Michael Hable The only method I know of not already listed is to get the Seller to take a 2nd mortgage on the property for part of or all of the down payment.

Or all 3:) I'm looking to flip properties in those cities.

One valid point that @Ron Jones does make is if your time is better spent running your RE business, it is something to consider, but just because you have a license certainly doesn't mean that you're required to sell any or all of your own projects.

Your attorney would draw up the mortgage (deed of trust) documents, and would do a title search on both (or all three if you use more) properties.

There are holes in the sheetrock and ceiling, some doors have been broken, the AC condensor, blower motor, and breaker box all stripped bare so obviously I don't want to jump in with a significant balance outstanding on the house.What I have been able to determine: the previous owner had been there 15 years and I'm guessing I will owe most or all of the 2011 taxes (about $2.5 K)My rehab estimates are around $12K, taxable value is at 70K (with homestead exepmtion), recent flips (same nighborhood) have sold for 80-90K.