Then prepare your claim (with photos) and serve the papers on the person.

Rentals are sticky, because not everybody is prepared to be a landlord especially when it comes to evicting folks with small kids.Know where you are buying at, the greater number of homeowners surrounding your rental increases the longevity of your tenants.

I really need to study, ask questions, etc so that I am better prepared to make a good decision.

., You gotta to be prepared and bombard them with information.

I'm not sure of when another crash will come, but I'm just hearing from word of mouth and reading up on some news articles so I'm preparing as well.  

@Amin Bhatia truthfully, I have only worked with one investor from Canada...lots to learn, but not insurmountable differences...LLC is the only way I buy property...with preparation to transfer title to my personal name to re-fi residential properties. 

I usually gave 2 years and if at the end of 2 years they asked for another year, I usually tried to work it out as long as everything looked like it would work out.When someone puts that much up, $10k plus for the option, they intend to buy and they are more likely to follow a good plan to prepare to buy.

I'm preparing to open an LLC so that I can dive into REI.  

If the same name or two keeps coming up, then you very likely have found a solid candidate.Just be prepared - this sounds like a situation where the employees will make off with whatever they can, and probably without the Seller's knowledge. 

As strange as it may sound and as wonderful as it will ultimately be it may be a tough adjustment for her into early retirement after the routine of putting in 60 hr/week for years ... be prepared for that and support her through the transition, which I'm sure you will.