personally, i would steer clear of any of the gurus who want to help you succeed for a fee. if they really wanted to help why would they willingly put you in a position to reduce your much needed capital at the onset of your endeavor which is just going to set you back longer. there are lots of mentors who would like to help if you are willing to help them in return. seek them out and save that money for your house, not the gurus mansion.

There are two fundamental approaches to putting these deals together; the tenant first approach or the Rent To Own Homes: How to Profit from a Lease Purchaseby Brandon Turner, over 2 years agoamounts of time and stress.

This will greatly reduce the Pavlovian stress of tenant calls.SCREEN YOUR TENANTS...background checks, employment verification, check references etcetera.  

Your best deal on this end would be to get a manager that will allow you to do some of the management functions and cover expenses such as advertising, to reduce their fee.

I'd say if the furniture is in decent shape, eliminate the stress and hassle of having to start from scratch. 

That begin said, I have done a prior foreclose and that is just life.In my case as stressful and a pain the process was to complete.

IT'S what I call a lopped sided deal and you can find much better deals with a lot less stress on you and much easier to get funding. 

It is stressful.  

I do stress that they can count on me to close the deal and often provide proof of funds.

This is not a good deal, but I do think one could improve the NOI by reducing the electrical utility expense and make the tenants pay for that.