Just be sure that the property will cash flow enough to cover all your normal expenses (debt service on the 30 yr loan, CapEx, repairs, vacancy, taxes & ins, etc) PLUS enough extra to pay off the LOC in a reasonable anoint of time.

Is it good if the rent covers your mortgage?

This covered my mortgage for the two years that I owned that house.

Promotion to outside sales at my day job and most of my expenses are covered by renting other side (Tenant moves in next week) and company paying my car etc..

-Should I try to partner with someone on my first couple deals that understands the business side and just offer to cover the rehab side for equity in the deal? 

If it is the type of thing covered by insurance then your insurance company will hire the lawyer to defend you should the homeowners pursue it.

Amin,I'm a tenant rep broker in the Philadelphia MSA with a heavy focus on tenant rep restaurant work.

After scrubbing my AgentPro247 list of delinqent tax and absentee owners, I have a satisfactory one page offer form, but I need the text for a good cover letter. 

A couple quick ones:Your closing costs are way low unless you know something I don't or the seller is covering your closing.

Now, I am waiting for my brokers exam date and I’m excited to get started, but I don’t know where to start.How can I make money with no capital, and with my income barely covering my credit card payments and living expenses?