In January of 2015 I came to Colorado to visit my sister for the weekend and by February of that same year I decided to do the most spontaneous thing I've ever done and quit my job, say bye to my family, and drive out here to the beautiful Colorado, starting over.

@Gordon French, thank you for your reply.I have decided not to get the property I wrote about.

@Kusum Chanrai I think you have already decided on Houston based on your other posts and I think that was a smart move.

And if they decide not to go through a turnkey company would that necessarily require flying to the location?

Most people opt for an unrealistic car and gigantic car payments, and then need to decide between rent and car payment one month because they're terrible with money.

Once you decide on a focus there are plenty of books that delve into more specifics on each strategy.- Millionaire Real Estate Investor- JScott's books on flipping houses (can be found here on BP)- Rich Dad Poor Dad - Book on Managing Rental Properties (found here on BP)

Talk to your accountant and decide what is better.

They don't own anything, and still have to qualify for a mortgage at the time of purchase if they decide to exercise the option.

You may do it and decide that you don't want to do anymore rentals and venture into something else like I did!

They could decide to drive up the scrap steel price.