Oh, and to get the residual amount to that former owner you would have to know where they ended up moving to!

You need to keep testing and tracking the numbers all the time as you will get calls,e-mails,texts etc. right away and then you will get residual contacts weeks to months later.As far as wholesaling you need to define who you are wholesaling to??

Why work a "9-5" doing something you resent when you can start that stamp collection business with RE providing is proving residual income?

Well my ultimate goal is to have residual income so becoming a landlord would be the best case for me.

Because technically, you have absolutely no right to collect a fee upfront or residual income off of rentals WITHOUT owning the property, unless you are licensed to sell real estate.

Remember the audit is there but the big x factor is the lawsuits.E and O quotes higher rates for property management.Even if the landlord and or the tenant or BOTH are at fault they almost always blame the real estate brokerage.Sometimes it is merited and many other times it is not.So to run a property management company you have to be very meticulous with everything.Many investors are out of state so they will want turn key management (one stop shop).Rates will depend on what type of asset and the size.When you go to IREM there is different training for different classes and sizes.For example the scope and management on a 20 unit apartment building will be very different from a 200 unit complex.Generally for apartments fees are 8 to 10% for 50 units and below and 50 units and above 5 to 7 percent of gross rents.Retail can be as low as 4% management fee.Houses you will be competing with low ball agents who are having a hard time selling real estate.The problem for landlords is once the managers start closing real estate sales they could care less about the rental.This is just like many agents doing bpo's now and when sales pick up they will dump doing the reports fro 50 bucks.If you want to be serious about management do it full time.In my area for houses the most reputable companies charge about 10% plus half of first months rent for houses.It's not about what you charge but what you provide for that fee.You will get landlords trying to squeeze the management fee because they overpaid for the property.That is not your problem when taking on rental property.I don't do property management but one of my broker friends manages over 400 homes with 10 property managers for his company.He likes the residual income it provides.He also land sales off of it as a side benefit.

You wouldn't see a high turnover rate like you would with flipping homes, but you could definitely pick projects with a 10%+ IRR, be the preferred equity partner, and even dictate that you receive residual income after being bought out.

Or residual lot value 'in case'

Are you plan on living here, flipping, or creating a residual income from it. 31st is right around the corner.

Then whatever I take from the sale price less initial purchase costs, residual loan, selling costs, tax to be paid often winds up being a great deal less than the paper value profit I just made on the house.