Still before you even get to that stage you should learn as much as you can about the company and the market prior to your visit, ask for client references and call them, do searches on reviews, and by all means make sure they have really good property management. preferably in house, but if not then a really reliable affiliate.

Then I build it back up to $5500.Any excess goes to down payments on my next purchase.

There are still issues here, common law marriages, estate issues, heirs, as a lender/note holder you may be able to clear these issues with foreclosure if the folks don't fight you on it, but you'd be selling and excess amounts would go to the estate, who could give a deed with that mess?

However while you didn't have to find the lead you still have to do all the work of evaluating, negotiating and contracting the place while needing to incorporate an excessive finders fee.

Your other concern is saying that in addition to stated provisions effecting the earnest money deposits, other matters relating to specific performance in addition to those provisions, that either party may seek to enforce the contract in amounts in excess of the earnest money deposited, that those provisions and amounts are not the only remedy at law or in equity.

Amounts in excess can require consent.Consider a different class of members, just as preferred and common stockholders, the voting rights do not have to be the same, but do have your attorney check state requirements to this angle.

I am in the stage of building capital and knowledge before I go after my first deal.

Best  -- Jim  I think the best solution for grandma would be to sell her property and purchase a small condo and use the excess cash to purchase a managed rental property to supplement her living expenses.

So while cash flow is important, it's important in 15 years.We are in the acquisition stage.

Dorkin is a stage name?