One of the most important fundamentals is to acquire a property at the right price.  

Account ClosedLet's start with one fundamental rule: the family has to pay you close to market rate, i.e. whatever that accommodation would be worth on the open market.

There are some fundamentals needed to get started in real estate and communication is one of them.

Stick to your fundamentals and you'll be fine

A letter of intent is a preliminary agreement that roughly outlines the fundamental terms and elements for the final agreement, but it’s not a legally-binding contract to purchase the property.

Fundamentally, there are only a few choices:Straight owner finance - seller holds note on a free and clear property.

If some felon sleezebag wants to sell me a perfect investment property--the numbers hold true throughout the lifetime of my holding the property (which means everything projected must be sustainable which speaks to the market fundamentals, the neighborhood, the rentability, and the quality of the property (for minimal repair or CapEx expenses)--why would the guy himself (the seller) matter?

This causes them to bend the rules on the basic fundamentals on REI.

B) He owes less than it's worth and I could potentially be on to something really good.My question is a basic fundamental of being a Real Estate Investor but I've never done this before so I'm seeking advice.

But, you need to set your moral compass early on to avoid the bad players.Next, learn the fundamentals of real estate, this is from a formal educational type setting, get a test book that real estate agents study to obtain a license.