That includes all the expenses: advertising, taxes, insurance, management, maintenance, vacancies, entity maintenance, legal fees, evictions, setout fees, damage done by the tenants (in excess of the deposit), capital expenses (not technically an operating expense), etc, etc, etc.

Is this legal?

A litmus test for a legal deal is if the institutional lender will write the loan after being fully informed of the seller financing.John Corey

., Ask for the name of the Legal Newspaper (Insiders Secrects) where Foreclosures are listed for the Next Upcoming-Sale.

A master lease with an option could be one legal construct to fit what you need yet not be too involved in the property directly.I think the biggest issue will be for you to clarify in your mind the sorts of deals that would make sense.

Some are talking about properties where legal action has been started by the lender.

I don't know the Legal side of that but why would you rent to someone you don't trust?

[/code:1]How can they legally keep the profits ?

Are there legal issues I'm unaware of if you buy a property and represent yourself?

Just be sure that the state and your process keeps you on the legal side of the line.John Corey