If your "buddy" shows up later, depending on the intent and his attempting to lease was to cover the obligation, other doors could opened, an invalid deed, an owner occupied, a wrongful foreclosure if that deed is filed contrary to his homestead exemption rights, origination of a consumer financing arrangement.....it could mount up, if a local DA get's involved, your shambled deal can go down some serious roads.

It's very time consuming to generate the marketing and follow up on the calls.  

My rental applications have a sentence to the effect that they acknowledge and give approval for me to run a background check:"I (applicant) recognize that as a part of your procedure for processing my application, an investigative consumer/credit/criminal report may be prepared whereby information is obtained through personal interviews with others with whom I may be acquainted, which I authorize hereby."

So far I've consumed the first 70 of the first 90 podcasts (high to low) in 2 months while I've shadowed a flipper, knocked on doors, networked etc to get my feet wet.

They get paid more of a bird dog fee than as a partner.It is absolutely true that most people are consumed by their own priorities than yours therefore their deals will always take precedence over yours.  

Right after posting this thread I went on Amazon and found a couple promising looking guides:http://www.amazon.com/How-Your-House-Works-Underst...http://www.amazon.com/Visual-Handbook-Building-Rem...http://www.amazon.com/Complete-Photo-Guide-Home-Re...

Hi Marylyn,Numbers look fine moving forward.First, I never give any credence at all to BBB ratings, meaningless as they are consumer oriented and, the good standing often comes from the membership fees and donations of the business, it's more of a PR concept than a regulatory type oversight of members operations.Principles on the lease are critical as to guarantors.

Doing showings one at a time is too time consuming.

Under the waiver of the rule, you could buy a house, fix it up and resell it as quickly as possible to a buyer using an FHA residential loan — provided that you followed guidelines designed to protect consumers.

This is a time consuming process and I actually oversee it personally because of my direct knowledge of the properties and tenancy but the 8 hours per year I put into it will save us approx $10,000-$35,000 (Mostly Cook County) per year on the batch of 125 resi we contest and another $60,000-$75,000 of the industrial/retail we manage.The difference in savings is really based on the amount of properties we are buying because we generally purchase vacant so the first 18 months we use the vacancy factor to contest.