Packing my bag I landed in the Midwest with no friends, and no contacts, just with the proceeds from that small tech company I managed to sell out.

I rent it for $1750 and mortgage/insurance/taxes/association are $1100.

Our total out-of-pocket costs will therefore be around $7,700 ($3,700 down + $4000 rehab).The numbers look like this: Rent $650 Loan payment $345 4 years @ 5% HOA $130 Insurance $13 Property taxes $67 Maintenance + CapEx $80 For new windows and HVAC Cash flow $15 During land contract Cash flow $361 After land contract Cash on Cash 56% After land contract ROI 48% During land contractAs the numbers show, there is virtually no cash flow during the 4 years the loan is being paid off, but the return on investment from principal pay down is almost 50% PER YEAR.  

Also this doesn't account for Taxes and Insurance so its even less of a performer.

I pay the property taxes, and tenants take care of maintenance, insurance for their trailers, and all the utility bills. 

I think this is twofold, one because the prices have been driven very high (and I'm late to the party) and the FHA payments usually are also higher (including insurance, etc.), and two because it's difficult to get the FHA loan on a property that is 70-80% and needs repairs, so nothing from my current wholesaler contacts would work. 

For the partnership, it's one thing to split profits and proceeds 50/50, but the work will never be exactly 50/50 so you have to be clear on roles and responsibilities. 

In your shoes  (if you wish to proceed) I'd push to have the eviction completed prior to close as a contingency.I applaud your interest in getting into real estate it has been a very rewarding and enjoyable career for me.

Closing with the VA loan is awesome because you have zero down no mortgage insurance which is a great start.

Which company offers the best renter's insurance in India?