The process is pretty simple, but it does involve extra steps compared to a traditional rental.

I have also helped a variety of both local and OOS investors buy in the metro using owner occupant and traditional investor financing.

Rates are typically higher than a traditional cash out refinance, however at least you are not getting the full loan amount + you have the flexibility to draw/tap in the money whenever needed.

(The tradition here is one month's rent for the fee.)6) How does trash normally work?

So if you are buying a property the traditional way, using an agent, you won't usually get answers when it comes to the condition.

So depending on what you want buying a business might be the better choice for you. 

traditional Lessons learned?

There's some great choices, but what it comes down to is what your buying strategy/criteria is. 

I'm curious if you decided what you're going to do and if you and your friends have made any choices if you're going to invest together?

Some use them as rentals.the biggest reason for doing things this way is a traditional bank won’t loan on  property that won’t appraise at their desired price.