@Marysue ConnellyI'm not a lawyer and this isn't legal advice.Currently, if you want to discontinue a lease that is expiring, you simply need to provide a written notice to vacate to the tenant with the appropriate notice period - our lease agreement states 60 days unless a lease is month-to-month, Colorado law typically only requires 30 days notice.

LolTotally worth it 

You typically have a certain time frame (known as contingencies) to get the loan closed.

That will be your main sources of funds...and typically you and your friends will need to invest $50,000-$100,000 per person. 

Buy the property for 100kPut 50k in rehab The hard money loan you took is for 130k (80% of purchase + the rehab)Property is now worth 250k Cash out Refi with a 30Y fixed DSCR 70% LTV (of the 250k) - Loan amount is now 175kYou just paid of the 130k hard money loan used to fix up the property and you pulled out your 20k initial investment + 25k extra cashThis is a perfect world scenario.

Most I know who've done this in the past say it's not worth the time and money.

Just the knowledge you get from buying your first 3 properties, estimating and completing rehabs is worth far more than some "guru's" class. 

These folks often have "pocket listings" and different FedEx route opportunities, both on and off the market: https://capitalbbw.com/categor...Best to do your homework, and the first year is not the easiest, but once you get the hang of it, it's well worth it.

That helps to contribute to a great NOI on a cash flowing SFR, or MF 2-4 unit.You actually can still get a property that offers acreage versus a typical small to medium size lot.

A quality operator is worth its weight in gold.