I assure you that there aren't any wholesalers on Craigslist slinging $54M in Cleveland investment real estate.

And I assure you the one thing you'll regret later on is that you didn't get started earlier!

I have an extensive background in real estate taxation from simple schedule E single member LLC properties to REIT tax compliance for a $6 billion REIT in Chicago.

Now, the Pro's about having an Annual Rental Agreement is that you are somewhat assured of having a tenant for a full year. 

After executory contract law changes in 2005 these L/O transactions with a term of >6 months are slanted against the sellers with compliance requirements and heavy penalties.

This might help SEC Compliance and Disclosure Interpretations of Securities Act

If majority are Investors in Complex and not Owners Occupied Property may not qualify for Fix Conventional Loan.I own 2 Condos in Charlotte, I can assure you HOA's will go up and theres nothing you can do about it..

And the added aggravation of dealing with other HOA compliance pieces associated with age restriction doesn't seem to be worth it, in my opinion.  

I explained the way the title was held and was assured that would not be an issue only to have your company take $950 from me, string me along for over 7 weeks and deny the loan for the same title scenario that I explained in the beginning, which was not a problem when I did my blanket loan with B2R, nor is it an issue for Stronghill Capital, with whom I am now working on this refinance.In addition, I have never experienced such poor responsiveness and communication during any loan process I've been a part of.

But, I assure you, once you find a great agent, you'll never even think about going it alone again...there's just no reason to.