When you get into big money things are political, let's not be naïve.While I like the regulatory approach of the CFPB, my concern is more to closing the door to entry into the mortgage loan business.

Save it.If you can't live within your means and save money you will always struggle with finances no matter how much you have.That said, here are some approaches starting outPartnersPrivate lenders (friends and family) Hard money lendersWholesaling (can be done with little money but it is hard work and hard to develop a consistent income)Credit cards - Risky but I know people who got their start that way.

Whatever you do, I would use a shared approach to covering the added cost to keep the tenant on board with the idea that she is responsible for reporting any problems to you as quickly as they come up.

You will get reasonable good input if you approach the subject properly.

Being as they are my parents they would more than likely simply loan (no interest)/give me the money, but I want to approach it from a business standpoint A) to show them they would get better returns than just sitting in the bank and could be great supplemental income for retirement years and B) I'm not looking for a handout but truly trying to learn how to structure deals for private money in the future.That being said those of you who have partnered/joint venture would you be so kind as to share some of your different agreements?

I am constantly approached about it, but I specialize in helping sellers.

I'm also here to try and gain whatever knowledge I can to help make my wife be successful in her sales career - which has shown to be quite challenging in the incredibly competitive LA-area.

I’m asking because I’ve been approached by several wholesalers asking me to sell the house for not much more than i bought them for.

This is how I started and know Brandon Turner is a big fan of this approach of starting out as well.Also a fan of the college town but being you are so far away you would have to hire a property manager to properly manage.

The deal structure is just as important as the price because you get more into the income approach versus the sales comparison approach with SFR.How hands on you want to be, what returns you can find locally in your market, and you long term goals are key.I have some clients that want more yield and are willing to deal with headaches to get it.