Being that it will be my first deal I will want to take care of the original owner to my fullest, and help them out, but as we all know some people out there just want more, and will even try to bring in lawyers and what not to get it.

Yes, I believe there were some tips given to you without realizing if any were previous landlords, which was..What Not To DO.

I mean I suppose I would just want to structure terms, where my payment to the original seller is drastically less than what the rent is, but I don't see that being enough for reserves, expenses and whatnot, but I guess that comes down to the terms.

How does one write a good solid business plan for (1) a rehab and resale business when you don't know what properties will be available, what rehab will be required, what the costs will be, and what the property will bring on resale, (2) for a supportive housing business when you don't know what programs will be valuable, relationships you develop, and what income can be generated, (3) for a note brokering/investing business when you don't know what notes will be available and at what discount.""

And the deals in FSBO and foreclosure and probate and what not are deals more geared towards the wholesaler or bird dog and investment buyer.  

Their home is an example of what not to do.

What not to to in D.

for flipping, my greatest problem with that is using a personal guarantee.i have excellent credit, cash and what not, but personal guarantees don't sit well with me.

One of the things they said they used as a networking tool was a forum on their website where investors can swap ideas and what not.

You need sales agreements and whatnot that basically says in writing that you are legally going to purchase the said property.