It's not a home run, but if you live in one side for a few years, it will probably work out pretty good as long as the neighborhood doesn't deteriorate.

If the numbers work out as well as you think, it might not be impossible to find someone who will front the 20% down needed in exchange for 50% of the profit.

If it doesn't work out, send them a gift card (even for $50) with a thank you note.

Was offered a job in computer security in WNY but after moving back to the Falls it didn’t work out.

That way, if things don't work out for you to personally be the property manager, or your uncle, you can at least figure that into the costs.

BB&T is probably worth researching as well, as, strangely enough, when we tried to use them initially, it didn't work out (fees too high once and said they don't do it another time), but they've taken over 2 of our loans, 1 investment and 1 FHA, within months of closing on the properties.

That way those who do not fit that model will stay away and those that accept your parameters will be happy to connect and be your client.MISCOMMUNICATION and not having clearly defined EXPECTATIONS is often why business relationships do not work out.

If you do that everything will work out for the best.

:) I agree- I think he's got some valid points, and much like the rest of his advice, if you follow it - it's probably going to work out better in life than those who don't.

Many times the tenants have a close relationship to the borrower, being their neighbor and landlord, plus the borrower is most likely skimming rent so they will work out a deal with the tenant, such as below market rent.