Make sure to attend the local REIA group if you want to get knowledge and access to some off-market deals.

If you can acquire the place for no interest or very low interest it will be much easier to meet him/her on price.

Besides the obvious that your place could get gutted and cleaned out of anything valuable, there are a number of scams where your listing gets posted to Craigslist, someone else gets access (IE via your lockbox) and "rents" your property to unsuspecting victims.If you do collect fees electronically, don't use Paypal.

I don’t have any other hesitation other than the total income they receive from their jobs not being sufficient (at least 2.5x the monthly rent), but should I consider the six months advance rental payments knowing they will have access to additional income made from the sell of their home?

They can allow you to access markets outside of your own, which can be invaluable.

There's no way I'd own more than a couple of houses without it, as the ability to leverage would be so limited that only the cream of the cream would have access to those funds.

Hi @Kevin Galang ,One way to save time acquiring your deal would be to buy them from a wholesaler that finds genuine deals.Talk to @Jason Bobbitt , his firm sells pre-rehab properties and I'll be going to him once I go out of state (Minnesota) next year.

Yes, I am focused on doing flips in SoCal, especially in the IE but given that it is extremely hard to find and acquire good deals these days, I'm thinking about expanding into the LV area as well.

I’m selling a property to acquire some rental units in a cheaper market through a 1031.

The purchase price is 399k.I am working with a partner and we have access to 150k, but not 400k.