For that parking spot rental, did you sign anything or was it simple enough to do a handshake deal?

You got rid of a liability and picked up an asset in your trade so I think you made a great decision there! 

My market in SFR where I’m at with cash flow doesn’t work very well but I’m not going to not pick up rentals just cause it doesn’t cash flow.

This seems like a transaction I hear about being executed on BP all of the time, but I haven't found a simple explanation or template for how to formally execute the process.

It's that simple!

I'm looking to pick up my first property and I've tried running quite a few properties through the calculator.

You can pick neighborhoods with $7,000 houses that are all torn up and then renovated to sell for around $30,000 or so but note that you'll end up with a different quality of tenant than if you picked a neighborhood with houses priced at $75,000.

He's picking up his weekly youtube schedule -- of course there's no mention of his company doing thousands of rehabs. 

Julian Joseph I’d suggest you pick a strategy and stick to it.

Assuming this is a long term buy/hold investment, then this is a simple math exercise.