However, I read stories on how older investors act as mentors to newbies and give them incredible deals on properties. 

To see what the real story is.  

Hilarious...but atleast they 'tabled' my 'dangerous' building for a little bit, I got a lot of work to do on that place, sometimes I wonder did I do right getting into Muskegon, like Mark Elliot said, after I bought my property there, then I've also heard stories about Muskegon officials being corrupt, but I'm still wondering are they corrupt or just looking out for their city...but this is the 1st city that I got a notice for lawn care, that if I didn't get it done, they would charge me $90/hr, and I was like wow!!

Consider any due on sale clause filing an option.Owner occupied, have a mortgage originator qualify the buyer.Do not put contingencies in an option that require performance, like paying rents agreed, it will invalidate the option making it a purchase contract, an optionee may not be required to perform in any aspect under an option.The lease and option are separate contracts, the lease may require performance, like paying rents as agreed.A residential tenant may not be responsible for repairs, IRS requirements.On a 3 year option, it will be better if you were to pay $3,600 as seller concessions to closing costs, she must pay pre-paids under most mortgages.

Another story: I helped a friend of mine buy a property in another bad area of St.

Look at this information===>Single Family Residential814 sqftStories: 2 story with attic and basementRoof: Shingle (Not Wood)Basement: Unfinished Basement 2 BedroomsLot Size: 2,975 sqftParking: Detached Garage2 UnitsCounty: Cook 1 BathroomBuilt In 1904Parking Spaces: 1Construction: MasonryTax Rate Code Area: 72167The Seller is asking 5k down, and selling the property for 25K.

@Derek WoodsI'm sure this forum will educated you with real live stories and lessons!

Sorry for the long story below.  

Story time:So a couple weeks ago I made an offer on a house I really liked.

http://www.meetup.com/PacificNWRealEstate/events/2...I'd love to hear your stories and connect with you in the real world!