Background check is a landlord's condom, don't get burned!

You absolutely need to know your state laws so you don't get burned.

Loving all things real estate combined with the burning desire to shape my own future & financial destiny brings me to this pivotal juncture.I am interested in starting off Wholesaling then moving into buying & holding.

I got burned real bad on a questionable deal because I was TOO eager to take action.

I was burning the candle at both ends though, and to be honest, I was not that great of a salesperson either. 

ONce you get some experience and want to go in that asset class and can do that with your eye's wide open,   And if you go into the low end stuff you really need to scale quickly other wise you will probably get burned out dealing with those type of properties.

Contacted wife who is 3 months behind in payments and pretty much told me that she was going to let it go into Foreclosure to burn her Ex-Husbands credit.

However, there are not areas in Muncie where it is perfectly fine to invest in, Unless you know the area where your are purchasing the property, you can easily get burned buying what seems like cheap houses in Muncie.

If they were to burn down or be vacant for a year or longer, the grandfathering would stop and it would revert to previous use.But I believe in some areas in California they're a lot tougher.

Maybe she just wants to feel more secure having a fat bank acct, but for me, I'd rather have it invested in RE and getting a much higher yield than what a bank will pay in a savings acct.