In terms of starting the process does it make sense to start the whole process by forming an LLC or something equivalent before beginning the process?

Sold comps around the neighborhood run between $700-800K.Being that I don't have a lot of experience yet, I don't have any idea how involved and how costly (in terms of money and time) it will be to bring this house back to normal and up to par with other properties around. 

We had a slight issue during the inspection, a crack in the slab was kind of at that warning level in terms of size.

I think the analogy is great in terms of describing the mindset necessary to succeed in this industry.

Originally posted by @Ariel Cohen:@David Dachtera My point was the HE had no experience or education in REI yet was able to do deal because he had the drive to do it....yet he also had to "learn by doing", which is usually the best learning in terms of quality, but also the highest risk because the danger of ending up being fined or unknowingly committing a tort - or even a felony offense!

In terms of shelves, checkout aisles, freezers, refrigerators, displays.

In New Jersey, as in most markets, November and December tend to be extremely slow months in terms of sales and the market tends to pick up again in January.

In terms of how long you have been investing and whether this is a draw back is tough to quantify.

This could set you back in terms of cash flow if your margins aren't great to begin with. 

If the percentage is the same, he'll be making the same amount and have less of a hassle factor to deal with in terms of renting them out.