Haha, for those that don't know it's a celebration of the French burning down the castle (three times!)

In some cases if the building burns down you can't rebuild a duplex, you'd have to comply with the current zoning.

I'm assuming you are referring to fix/flip, so the countless variables that pop up during the fix stage will likely burn through most/all of your profit margin with cost and time overruns unless you are there to DRIVE the job to the finish line.A couple other options to consider, which may be more passive and might fit better for your situation - become a hard money lender, invest in notes/paper, be an equity partner with somebody you know/trust locally that can help drive the business in your absence.None of what I am saying is intended to discourage you.

That's part of my attraction to this dump, I could rehab it just how I want to and make a nice place, sort of targeting a younger to middle-aged professional crowd that has some extra money to burn.

.- Freon leaks on units less then 5 years old- galvanized pipes in attics with pinhole leaks- cracked slabs (and all that goes with that repair from cracked tiles to cracked walls)- AC condensing unit stolen in vacant house- underground plumbing leaks- and the best one was a voltage surge in a house that burned out the transformer on the AC unit, and burned out the stove digital display, and ruined two outdoor mercury vapor lights.

Most 0% mortgages are less than rent by a significant amount.Find out what that reason is and see if it is okay with you (ie moving soon, bad credit, foreclosure, short sale, previous burn, professional tenant.....).

Keep the client very happy, and you might even find yourself entrusted with stewarding one of those fat bank accounts.

I am a young and eager college grad with money to burn.

I was so burned out showing the property that after 45 days I found myself snapping at prospects, not answering calls and ended up accepting someone I would never have accepted otherwise.

Edward Burns gave you the wording for the addendum and Wayne Brooks pointed out the only thing that I noticed which is it doesn't need to be notarized.