This means that they would buy the next X payments, give me a fixed amount, and I would resume collecting after their X payments were done.For me it didn't make sense.

I passed the exam with flying colors and believe that the training I received and the practice exams were a big factor in my passing the exams.

I probably collect the equivalent of one small apartment in late fees each month.

Placing properties in an LLC is pretty much an acceptable business practice in RE, for the liability protection you need to pay attention to how you run the business.

I would allow 7.5 to 10% for vacancy and non collectible and with 3 doors average at least $2000 to $3000 annually for maintenance.

Take your time, build sound knowledge, learn your market and stay close to customary practices, you should do well.

I would think a consultant would be more independent, marketing services to the general public in certain areas of consultation.An architect or engineer would be a consultant.There are many areas of professional practice in real estate, accounting, economics, law, engineering, finance, marketing and management, enviornmental and physical sciences, geology, hydrology and more I'm sure.

I'm taking it as good practice for other deals in the future.

There is a bright side to this though, if the contractor runs over budget, they can't collect from you, they have to ask the FHA for more money.

Anyways this guy sits back and literally collects over $250,000/month from this property.