I’m a newbie and looking to get into the REI world, starting off by learning before I make my first purchase (either a rental or flip).I’ve only heard good things about the community and I am looking for education and tips, while limiting risks and avoiding huge financial pitfalls.Thanks in advance, and I am looking forward to this new adventure!

I took financial responsibility for getting units ready to lease and beginning some rehab which they agreed to all funds invested.

I assume any lines will be recorded at the county court house so that if I go to pull the deed they "should" be recorded there?

If you go to court the judge is going to say what did you both agree to, let me see your lease.It also defines expectations to the tenants and what is acceptable and unacceptable behavior.It defines how much the rent is and how much deposit you are holding. 

Tiller will automatically pull financial transactions from checking accounts and credit cards into a spreadsheet allowing you to then set up a simple financial cost tracking system. 

In addition, we are also pursuing Financial Independence through a mix of real estate and investment accounts. 

Financial independence, passive income, retiring early, living life to its fullest, real estate investing.

Do you mean you have a personal friend or a family that will assist you financially?

@Josh Bast, it's not that your strategy is "bad," it's that it won't produce the best financial results over the long term.

Have you reached out to the auction house or owner for current financials?