But, it comes down to your risk aversion: many people in your position (1-8 rentals) have their rentals attached to their Homeowners insurance and then have a personal umbrella for extra protection.  

If push comes to shove I could 'create' some money for an extra month or two.

So when you are driving through town, make an extra stop by these places that could benefit by leasing from you.

Either way it looks like I will be doing month to month then and spending the extra money to give the resort atmosphere to include wifi, laundry facility, etc.I use my own lease that I drew up and fined tuned over several years after evaluating many other leases and through personal experiences.  

The difficulty is in finding the duplexes, though, and for us, since we're just starting out, getting the money for the down payment.

Lumberjack cleaning, we have a few local commercial cleaning clients that I still operate out of Portland for extra income.

The difficulty with a blind pool is having investors trust you with their funds without knowing the specific properties and the projected returns.

Whether you decide to purchase the property or not, taking the extra time will save you from having lots of headaches!

Both our parents have some extra cash but I am a bit reluctant to ask them especially on our very first deal.  

The Skinny Offer usually is understood and accepted by sellers of residential and land owners.Commercial Long Form Contract Offer, this is only three pages, but has everything in it that is needed to make the deal work and to will defend the investors position in court if it every comes to that.Locator Program, a networking system with trained Locators (neighborhood people and others who want to make extra money in real estate but don't want to spend the money or time learning how to be an investors), a good Locator is capable of supplying many potentially profitable leads.