State law restricts increases to 2% of the property value per year for "inflation adjustment".

Given the ubiquity of this contract in Texas (law *requires* this contract be used unless the buyer or seller has an attorney draw up the contract) that might be hard to pull off but I'll add that to my toolbox.We were not informed that the contract had been signed until 10/1.

My lawyer (a friend) will set up my LLC, but it will cost over 1K to do so so I am looking for other options.My longterm girlfriend (12 yrs) and I are going to partner with her brother and sister in law in buying rentals.

I would refrain from showing.By law, the tenant has possession.

True reverence for God and His law is the best way to protect life, liberty and the pursuit of happiness even for those that refuse to acknowledge Him.

Repairing your credit on your own is like defending yourself in a court of law.

Sounds like you need a lawyer familiar with your local laws.

Pitfalls are not selling the house before your lease it up (have it revert back to the seller) or having the tenant trash the place, (make them responsible outside of reasonable living conditions, or take more of a downpayment), or double closing in the end, which there are a few ways around as well.Its a good strategy, if you learn from someone who is doing them, currently, and is watching changes in laws, etc.

Contract law is very useful for instance.

This means no earnest money (depending on your state's laws) and no proof of funds.Starting out as a wholesaler I would recommend putting contingency clauses in your contract and I would recommend you use them if necessary, but I would do everything in my power to NOT use them.I would also recommend that as a wholesaler that you get your own financing set up.