But, as already stated, even those lenders will ask for your PFS and REO schedule (even if the latter is blank), a bio as well as your plans for the property you are acquiring.

Question: Does having a tenant sign a very simple document saying,The simple document is called a "Lease Agreement" whether it is week to week or month to month unless you are a Hotel/Motel.Get yourself a good legal lease agreement and use it, filling in the blanks where the info would apply to that particular tenant.

I was initially interested in a duplex or triplex, but gained interest in commercial properties after reading small sections of Brandon's books and Michael Blank's Financial Freedom with Real Estate Investing book.

I could really use some help from experienced folks so I know exactly what I'm getting into.So far I have cost estimates on feasibility ($500), permitting ($1000), general contracting labor (200K give or take), cost of building materials ($140,000), and loan interest (Still working on getting an estimate on this) Can someone help fill in the blanks of everything else I'll need and what I should budget for?

If Seller is a bank then you need to draw from the line and put it in your checking account and show the statement with the account number blanked out.

I have relatives down there.Since I stared learning this real estate I see a lot of investments down there.

Im totally with you @Jay Hinrichs Im definitely not out to defend my license, just trying to protect those staring out from litigation, I fell in kinda backwards, so glad I did.

@Eric Bergin I use Micheal Blank's one.

In one meeting with a banker, I remember the bank representative, feet on his desk clipping his fingernails into a trashcan, staring past me as if I wasn’t in the room.

Title it Deal 1.Leave it blank.