To highlight the basics of DD, we like to break those up into 4 areas:  Financials, initial walkthrough, contractor inspections, and compliance.  

I knew the risk I was taking on and that the property would have to start from scratch and have everything brought into compliance with the city.  

-Comprehensive Marketing and Advertising-Owner Deposit- No Delay Fund deposit to owner-Schedule Rent Increases-Recommend market rate rent cost-Strict tenant Screening & Selection-Monthly record Keeping/Statement-Cost-Effective and Reliable maintenance -Lease Law Compliance -Regular “Common Area” Inspection-24 Hour Online Access To Parking-Rent Collection-Lease Renewal (3 month notice)-New Tenant 60 day Inspection-Handle all tenant calls, emails, and texts-Owner Communication -Property up keeping including lawn care

Reason I ask is I have called both Realty Mogul and Patch Of Land to get something going, maybe a total of 8 calls between the two firms, and I've not been getting the warm fuzzy feeling the different reps knew what they were talking about; it's been inconsistent answers about whether or not I could use my SDIRA, no clear guidance on the steps to get the money moved to them, and blasé about me being ready to pull the trigger. 

Might not have all the steps but there will be some and by the time they recover from the shock and do what they do, you're back in compliance.

The fee should cover preparation of review of your transaction to ensure compliance with the tax code, preparation of legal documents, assisting your with the process, including the 45 day identification period, and answering your questions as you go along.

You'll love the war stories in your next class at the brokerage......they will scare newbies into compliance....LOLGood luck....

it could possibly trigger a clause in the mortgage that 'could' deamnd payment in full. many people have done exactly what you are suggesting without any issues, however, the risk IS there.

If you are able to pay mortgage, insurance, taxes, utilites (W/S/G), and account for some vacancy, and you're still making $100/month for the 12 year mortgage, I would pull the trigger. 6% on a 12-year loan seems criminal, but if the numbers work out, they work out.

And if more than 3 buyers click it in, say, a 4-day period, an email would be triggered to the seller saying "multiple buyers say your deal is sold, so we're about to mark it as sold."