These are normally called Ownership and Encumbrance (O&E) reports, but I can't remember if those are legal in MA...it's been a while since I've been in the business.

I suggest a good emergency fund or be able to liquidate enough funds to cover when you don't have the income.

Pick our a standard Earnest Money or purchase contract... it will be fill in the blanks.2. fill in the blanks IE purchase price  who is buying who is selling and settlement date.3. get it signed and e mailed back by seller.. 4 walk the contract into a local title company and have them process it like any other transaction.pretty simple as you said.. or find a simplithetic realtor who will take 30 mintues with you.I don't know FLA RE law per se the disclosures are usually on the onus of the seller not the buyer so you probably have no issues.. but again a RE broker should be able to answer these questions in 10 mintues

@Jordan Jett welcome to BP, and congrats on your graduation. just like jasmine said podcast are a great starting point, along with the free E-Books, this is the best place to be!!

((I prefer Donni)) I'm R E A L L Y new to Real Estate, so I'm looking for all the advice I can get.

My question revolves around peoples' opinions on how to best prepare myself to invest in income producing properties in the next 3-4 years in regards to 401K v IRA v highly liquid personal stock portfolio.I have read many posts on here referring to using self-directed traditional or roth IRA's as the vehicle through which to invest in real estate, but I am curious if I have not yet started a roth would it be better to start a post-tax savings/ investment account so that I can be ready to jump on a deal nearly immediately if one presents itself?

These reserves do not need to be liquid, it can be 401k.

-Tenants staying there since (24 months, 14 months, 6 months, 6 months)-Leases are going to expire in (24 months, 6 months, 6 months, 6 months)-Security deposit (295, 295, 295, 125)Bad- Year of construction: 1981Ugly (This fee is supposed to be a deal killer but I think the risk is worth taking - I am seeking your expert opinion on this subject).- Monthly Maintenance Fee of 760$ - Seller is claiming that this fee cover pretty much everything except inside the property… the insurance on thru HOA is enough for most banks… also cable/trash/grounds/day-night security…I prepared 2 Reports using Bigger Pocket’s Rental property calculator a) With 100% mortgage b) With 75% mortgage.During the preparation of these Reports, I considered the potential future expenses by having the following assumptions.

@Aaron Montague  We get daily e-mails from realtor.com .

Until you get 100% of your capital back your making no return as these houses are not liquid you can't look at it like the money is in the bank and I am making a 30% return.