I hope I don't need to pay taxes until I "recover" my initial investment cost (that was 115K) or basis.I am planning to talk to title company and probably lending attorney to "minimize the damage".What is the closing costs for seller financing deal in comparison with conventional buy/sell transaction?

My initial goals in real estate are simple: 1) learn as much as I possibly can 2) find and fund my first deal.

What other protections can I put in my initial offer to protect my ability to back out?

What should I be asking them when I make the initial contact?

I'm just getting starting and I'm looking to build systems that could generate 5 to 10 deals a month; nationwide.  

I dont want the tenant to feel like they are paying an individual (me) .I would be nice if they also generated a report.2>I want to use a 24/7 service to be available to take service calls from tenant via a 1-800 number and log a ticket.

The initial funding is on the purchase price (80%-90% of purchase) and then your 100% of rehab costs is held in escrow.

I think that's what initially attracted me to real estate, but now I'm realizing that having freedom of my time and the ability to spend that with my family is waaaay more important than fast cars and big houses.

The goal/strategy is to find properties in the Philly area that could be rented out and generate cash flow. 

Monthly Income: 1100Expenses:•-Repairs/ Maintenance – 50•-Real Estate Taxes – 112.50 (1.2%)•-Insurance – 30•-Vacancy Costs – 83•-Capital Expenditures – 100•-Total Monthly Expenses: 375.83 Downpayment: 18000Loan Amount: 72000 (with 20,000 rehab money)•-30 Years @ 5% interest Closing Costs: 4000Total Initial Investment: 22000Monthly Mortgage: 386.51Cap Rate: 9.54%Monthly Cash Flow: 329.32ROI: 17.96%After evaluating this, if this property was in a better neighborhood with less crime, would I be naive to pursue this property?