Presently, I've noticed a surge in foreclosures emerging in Tampa Bay.

I agree with BillB. in addition to, you must include in your new lease a requirement for additional tenants.

BUYOUT CLAUSE:2.1 Term:This partnership shall have a duration of 10 years, commencing on the effective date of this Agreement.2.2 End of Term Meeting:At the end of the 10-year term, a meeting will be held where both parties shall vote on options, including a buyout, selling the properties, or continuing the partnership.3.

but anyone with any kind of experience is just going to Laugh at that garbage they presented..

Including Sedona, Scottsdale, and Paradise Valley, all in Arizona. 

What many investors are learning is that this leads to terrible outcomes including paused distributions and loss of principal invested.You are technically correct that debt will always multiply returns.

I think the main steps include filling out and submitting an application and then attending the hearing the following month to have it voted on.

I will bet I can send you some great deal, but you won't have the ability to know they are deals because you don't have the experience to do the math.The biggest problem both new and experienced investors have is nobody watches our backs because everyone has their own agenda and the greed more money.What you need is to do is; rather than banging your head against a concrete wall, post the properties you are looking at, write as much detail about each property as you can including rehab costs, rental income, how much you can increase rents and then let people give you their opinions and advice.Here is a serious problem with people who own their own business and then we wonder why some people are successful and why some are not. 

I found a contact at New Western who spoke Spanish and presented the idea to my dad.

I did realize after I made this post that the Applicant's monthly car payment of over $700 is actually included in the total monthly debt obligation which is above $1300 so I over calculated the car payment into the expenses.