Congrats on finding your first deal.Regarding the property, assuming most houses are 3/1 or 2/1s in the area, being that your property is unique and in a tougher area that could be a disadvantage for you down the long run as far as rent and appreciation.

The value of the note is, to some extent, is unique to the investor.

I see that nobody had answered you post, so here goes.I wouldn't use "someone elses" contract, simply because each deal is unique.

The problem with this particular guru's recommendation is the presumption that money, track record and knowledge account for little; that anyone can use this "unique" system.

Any unique rental laws a landlord should know?

., toy clogging toilet -- you pay bill, roof leak -- I pay bill).

Ok, I have a unique on that I feel trumps them all as of yet;Power maniac nazi cities who confiscate rental property (yes, that is correct, confiscate, as in take it from you without paying for it) for the actions made by the tenants, regardless if there inherited tenants contractually forced upon you by the same city, who refused you evicting them FOR THE SAME REASONS!

I wish I could better verbalize what is going on in North Dakota because it is unique.

This is a unique business in that you actually get to choose who you are doing business with!

Then again, someone can state one purpose when booking, but then come to find out, the real purpose was something completely different.Could it work, Oh I believe it could, no doubt.What we have is a unique property that I'm sure would have the potential to become a successful and sought after rental.What would it take to market the property properly, that I can't say.