I don't think my costs are nearly as much as Russell said but if i had to guess it's still easily over a grand for me when you add in the NAR dues, mls fees, continuing education and every little thing they nickle and dime out of you like lockboxes, lockbox set up fees not to mention monthly servicing fees just for the stupid box.

Then do it all again and continue to build your portfolio.

I personally would like to continue buying properties to rent out every year but he feels that is risky and will lead to unpayable debt.

Buyer will take over the title and continue to make payment to the lien holder on the Seller's behalf moving forward.

If you continue to buy at retail pricing you will eventually run out of money and be stuck in a holding pattern as there is no way to get your down payment funds back out of a property with little or no equity.

I'm comfortable with TVM and am continuing to learn about different ways to wholly analyze deals concerning tax implications, individual investment strategies, financing, etc. 

Don't get antsy, stay patient and continue to work your plan!

And in the future, you may want to include a statement that says your signature is null and void after a certain amount of days; that way if they have not redeemed within a certain amount to time, you should be able to continue to make preservation improvements.This post is a little bit old, but I'd like to hear what happened in your situation.

When it comes time to refinance and you choose to refinance under conventional financing guidelines then your debt to income will come into play, however if this is an issue you can always refinance with an asset based lender.

If my long-term goal is to continue going bigger and bigger, perhaps doing a 1031 from that one into a better-performing one is the way to go.