I agree with everything you are saying.

I agree with the other posters...25% down seems a bit high.

Nice to see Zillow agreeing with every sales person from Buffalo LOL.Buffalo is a good market to invest long term if you get a good property, on a good street, in good condition.  

Quote from @Mike Grudzien: I agree with Zach. 

Then the remaining profits get distributed at whatever split you both agree to...I often see it start at 25/75 (75 to the person in your position) and then maybe increase it to 40/60 or 50/50.It would really help if you could provide some numbers on your deal. 

It feels premature to sign a purchase agreement without agreeing on a price or even seeing the property.

I agree with everything what Jonathan said. 

I totally agree, big investors can go nationwide, but knowing the ins and outs of your local market makes all the difference.

You can try small claims court, but nothing is enforceable, so it is mostly a waste of your time...and some of the problematic tenants know this.I agree with Jill, if they do make payments, take cash or money orders-no cheques.

I also agree that funnel is big and wide when foreclosures start, but only few properties end up being sold.