Another twist will be to have a mix of long term rentals away from the tourist attractions and vacation rentals close to the beaches.I am looking for advise, tools, samples, insights on how to best create a business plan and identify the best tools (software/apps) for the establishment of this new company.

Also, separate question, if I want to keep them on as month-to-month indefinitely (since so long as rents are below market and their presence makes it hard for me to improve the apartments a year-long lease seems more to their advantage than mine) do I establish a "month-to-month lease" with them that would stipulate when rent is due and what happens at what date when you don't pay, what their responsibilities and mine are, where people can park, etc.?

To quote the agent and his brokerage attorney - they suggested using an attorney to draft the following - "Short addendum to cover things like a (i) pre- and post-closing indemnity, (ii) seller representations and warranties, (iii) an assignment and assumption of leases, (iv) establishing a duty to collect past due rents, (v) Seller’s delivery of a “rent roll” and update of same on or at closing, etc., could all be included in a short addendum."

. : )Hi Sonya,Ohio is a great market along with many others in the Midwest.I always stress to new investors to focus more on establishing trust and relationships with key people on the ground rather than looking at the stats and demographics of a particular area straight off the bat.Every time I lost money in real estate wasn't due to the numbers not working in the deal.

Some goals that I have set for myself are:*Become an avid member in local REIA groups*Start a real estate investing company in the next 3-4 months *Get my first wholesale deal in the next 4-6 months*Build long-lasting relationships through real estate investing I have a deep passion for building relationships and I'm hoping to establish some great ones here wth the BP community!!

You have to establish some relationships and then cultivate them.

Some locations I’ve considered are Indianapolis, Kansas City, Dallas, Charlotte, and Baltimore, because they appear to be better suited price-wise for someone just getting into the game, and their rental markets seem stable and profitable.I’ll be in the US for about 4 weeks from the end of May to the middle of June, and in that time I hope to visit at least one potential location to meet with brokers, and try and establish a working relationship with an accountant and lawyer, and other investors.

Sounds like you have pursued establishing a solid base via 401K and conservative investments and then plan to continue to gobble up more good REI deals.

Next, "dry funding" has some serious issues even if you can find some idiot closing agent, good title is not established unless a buyer has good funds to close and escrowed funds are not good funds that a prior buyer is entitled to use.

What I want to know is, if I move there and get myself an established job history, with a 20% down payment and a proven income of ~$1200/mo, is it likely I could be approved for a 15yr loan?