@Donovan VicentiInvest in Debt is one group I've heard about but have not yet attended personally.ABQREIA is the only group I attend, but I missed the last one due to travel.Check the meet-up dot com site and other forums here to find others.  

And then of course your debt service if you really want to figure positive monthly cash flow.does it work out on paper?

In addition to cash in cash returns and capital gains at sale, I also look at the debt coverage ratio to see if the property can support its debt service in these scenarios.  

I think the main thing about the contract is that it applies to your area and is legal for your area.

Find out who owns the property through county records, determine possible debt and date and amount of current purchase. 

(I guess that debt has to be paid off by someone) I would love to fix up some of the abandoned communities and convert many to gated communities I just have to do more research and analysis on the economy/recovery.

I think Eric Lee at Proline Tax Advisors does it: http://www.prolinetaxadvisors.com/The legal filing with the state is essentially the same no matter who you use.

The thing about listing agents is that their hands are legally tied when they represent both the seller AND the buyer.

However, the main reason I am getting my license is for my own deals - staying legal, access to the MLS, etc.

My guess is that when I dig into the contract I will find that they have the legal right to do whatever they want.