Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

I've written extensively about this recently.

Operating is where you collect the rents and pay expenses.

@Preethi S. understand your concerns about PMCs defending themselves and throwing owners under the bus.But... how is it okay for you to NOT share all the context, yet throw the PMC under the bus, and by extension all PMCs?

A “contract to hold” binder payment equal to a month’s rent would also be collected at that time.

If any damage arises from her negligence she will be getting the bills for damages, plus costs of collecting which you bill as well as your attorney in addition to the termination of her lease.

Network with local investors, undertake extensive due diligence, and develop a clear exit strategy.

I prepare an extensive number of tax returns.A big niche of my clientele is made up of real estate investors.

You can collect rent, do your banking (unlimited virtual accounts), and do your accounting.

Going private money will already cost you more $$ in closing costs, points, etc - but they should ONLY collect $$ if the loan closes.