Can you imagine teaching your child to swim by having them read lists on how to swim (very detailed and complete lists...covering every step of the process) and then having them run "what-if scenarios" on your proprietary super-duper how to swim software? 

Hi everyone, my name is Kolbi Smith and I've been learning about real estate investing for the past year or so and recently found out I'm having my first child so it's time to get serious!

Used to small per transaction companies would take on anyone.I did it as well years ago.What I found was rusty agents doing 1 deal a year where I had to do the whole transaction to make 300 bucks.They couldn't hack it full time so had to work another job and could never be reached.Then you have the expired agent licenses,lapse because of no child support payment,or student loans,IRS taxes,non payment of state license dues,not meeting education requirements etc.So the per transaction companies got smart.If you are a brand new agent they make the first say 3 to 5 transactions at 70/30 or 60/40 and then after that you get the 100%.This way the broker gets paid for holding your hand.We also do this requirement sometimes if the agent does not produce so many transactions a year before coming to us as they can be really rusty in the updated contracts and processing a transaction.A new agent is bad enough but a new agent that also wants to buy their first investment property is a double whammy as far as liability risk to errors and omissions policy and time you need to invest with them.I think finding one for split first then going to 100% might be more realistic for you.

Most felons are still owing child support, can't hold a steady job, won't have Landlord references, etc.

I can see a situation where a child runs into the plant and is injured.Casey, I hope the above helped.

She assured me she had enough income for the rental, but it turns out she was counting child support that doesn't exist yet (she says she needs to get out of her current living arrangement before filing for divorce) and SNAP funds from an application that's in process. 

So the tenants lost one child and you are complaining about them running a humidifier for their other sick child? 

You might think that… but from a contractor perspective, you are one of many obligations they probably have… not to mention looking for the next job, finishing up old jobs, sneaking in quick jobs, emergencies for other (dare I say) more important customers, or just needing / wanting a day off (think going to the doctor / dentist / child’s school event, what have you!) 

Right in the middle of finishing the basement child number 1 comes along.

One that seems to pop up with great regularity on property that I've looked at is a child support lien.Also realize that the property may come with occupants, legal or not, and you'll be responsible for the eviction.