Will seek legal help on this before I proceed further.

Inventory and fixtures can come from you, investors and from financing....all this takes some knowledge and guts as most mom-pop types fail in 4 years, but if you're the landlord it makes getting over the hump much easier.....but this may not be for you, but I've done this and got out with more than rentsJust saying, instead of putting an ad in the paper and hanging a sign, get active in seeking out the tenants you want. :). .

Hi folks. I am currently trying to start my investing career all over again. I have been reading everything I can and trying to catch up. I went to my local REI club. They have a mentor program....but it's 10k!! ...

I am currently seeking a Mentor for guidance, knowledge and wisdom.

Call every lender and mortgage company you can find on the internet/ in newspapers/ direct mail/your wond bank that lends and tell them what (in there language) you are seeking.

So, the current owner is seeking a private sale.

Looking to network, raise capital, and seek investments in the Philadelphia area.

In either case, they are often seeking passive income so that they can offset passive losses that otherwise they are not able to currently claim.5) The final sale of the property at a gain will typically be taxed at favorable long term capital gains rates at the individual level.This has just been my experience. 

Here's the author's response to all your comments: http://investingarchitect.com/to-domino-or-not-to-domino-that-is-the-question/ Erion's Blueprint Investing plan is the same thing that Jeff Brown, The Bawld Guy, encourages as the best route for those seeking stable cash flow in retirement.

It would be a great starting point to locate properties meeting your criteria or network with people who have done what you are seeking to do.