I was incorrect when I assumed that Contract for deed was the same as lease option.

So if your idea is that real estate is so easy to do that all you'll have to do is sit back and collect the commissions, that is wildly incorrect.

@Dustin Smith  I may have read your first post incorrectly, it is currently a retirement home and will be converted to apartments - non retirement?

In most tax auctions the governmental lien takes precedence over any and all other liens (except other governmental liens) and since a pre-auction deal would not make it to the auction then any and all liens would still exist and also have to be taken into account for.Am I incorrect in my assumptions here?

Here is the link:https://www.knowyouroptions.com/loanlookupThis quote is incorrect - portfolio loans do count toward the number of loans before you hit the conventional lending limit.And as @Wayne Brooks already has posted, it is the number of properties subject to mortgage, so a blanket loan will count for the number of properties covered under that loan, whereas a HELOC in second position does not count as an additional property loan.

While you may earn $$$$$ as part of your work, if you work long hours, have a long commute, posture with expensive clothes, your true earnings are less, $$$ or $$.So it's important to keep your relationship with money in the back of your mind in all your ventures.

That's a CAP rate of 7.5% and since you're paying all cash, your COC is 7.5% not 9...Maybe the numbers above are incorrect but that's what I'm getting.

I'd like to say that your mentor at work is incorrect.

Dept. of Real Estate, you are not a real estate licensee, unless I looked it up incorrectly.

So I can no longer work as a nurse in corrections a massage therapist my 30 year careers gone in an instant.