I would like to get a security deposit and signed lease in place ahead of time.The new tenant is an associate of the family across the street from mine.

@Eric Blanchard A mentor will be a great way to learn but I have kids (they aren't 16 yet) and I don't know that I would want them going to any REIA and associating with a bunch of adult strangers at age 16.

However, her current rent is about 20%-25% below market based on a casual loopnet survey.

I run the Rowan Real Estate Investors and Associates group over in Salisbury.

That is from the federal side and is applicable to all loans, consumer, commercial, private, institutional, any note.Next, you get involved with a borrower using that money, controlling business or influencing operational decisions you are stepping outside the lending arena and taking on new liabilities that can place your funds at risk if there is any failure.Another comment, any fee paid that is required to be paid to obtain any loan is a cost that must be accounted for in settlements, there are a number of underlying laws depending on the type of loan but all loans and associated costs will be an issue under the tax code.There are thousands of attorneys out there I'm sure that do RE and think they know financing laws and regulations, they may have done them for years, doesn't mean they really know and most will never admit not knowing.Every bank I've seen had an attorney, all have legal advice and as I mentioned, there won't be a bank or any other lender around, that really makes loans that won't have some compliance issue.

Lauderdale, Fl.I'm not Associated with this Company, and I do NOT receive any Compensation for recommending them.Raymond

If the association/units have the right of first refusal via condo doc.s, then they have it and that overrides your contract.

Also, I haven't had to use a bank loan to build my portfolio, either.My comment was inspired by a few associates in the mortgage industry that are really concerned about their business being adversely affected… to the extent that they are considering other options for work.Having said that… even if it does only apply to FNMA and FMCC backed loans, I can imagine there will be reverberating affects to the conventional loan market.

Are you active in the local REIA clubs and Landlord association meetings?

I usually try to get 700-900/mo rents for every 10-25k that I spend on a property but I know this is not possible in all markets and there is probably a higher level of perceived risk associated with such properties.