I'm not a landlord but know hotel rules since I talk a lot when doing whole hotel, room renovations.

Single family homes are fairly cheap and easy to come by in the area, and in my experience rent well.

Some good ones are:1. subject to my partners approval (your pet rat can be your partner)2. subject to 90 day inspection (HOPEFULLY you can broker it by then)3. subject to 40 year mortgage at -0-% interestOperating as an unlicensed broker isn't an easy job.

Is there a document laying out all of the rules?

It is that easy to gain more knowledge and be more skilled when it comes to the real estate industry.

The end goal is always to give a platform for my client's listings and an easy way to find properties.

So if the $25K offer was accepted, that puts it at the 1.6% value (according the purchase price/rent rule...that I learned from BP).Probably overthinking it, but I'm also very eager to use the BP forums as source of community advice.

Jay Hinrichs proposes the 3 C's in lending and they are good rules for all lenders to consider no matter who the borrower is.

I install electric water heaters in my units because they are cheap and easy to replace, Ace Hardware sells 40 gallon units for $299, vs a power vent Gas one is $749, and life span is about the same.

I need to relearn the new rules and methods that work for todays investing market and my region.