Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal level Learn 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 needed Know 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.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

City gets involved. 

They run a customizable fund platform that many fund managers have started using in recent years.I'm not involved in the development space much, but a newer person can generally only offer so much to a more experienced person in this business. 

Most people cant afford that alone which means a syndicate or getting PMLs involved and doing the synd yourself. there's nothing wrong with starting with some smaller properties.

The title attorney involved had open communication with all parties on this and an addendum was added to the contract stating this.   

Hi Niece, I'd suggest you get involved with other like minded folks at your local real estate group.

I hope it works out for all involved.  

We've never actually had a tenant use it after reading the addendum (which was our goal), and I think it helps prevent problems when they understand the myriad issues involved in its use.  

They will be one lease to a room.That being said, the nonprofit will be filling the house based on their need; I will not be screening nor accepting/denying applicants.