When you do this, it effectively just moves you further along on the amortization schedule.  

@Adam Piercethe most cost effective way to get into real estate investing could very well be the owner-occupied fourplex purchase using an FHA loan.  

There is no easy or cost effective (or time effective) way to make your landlord perform (rent to you).  

It was only recently, when listening to the audio book "The Compound Effect" did I truly grasp how much I required immediate gratification. 

Our initial rent was also $2300.We selected the tenant that we were most comfortable with after reviewing the background checks and applications from the realty company and have been managing the property ourselves since the lease signing.

Easy and cost effective, this is best for an attorney to draft and record.

On the outside of the envelope will be a paper that says something to the effect of "If you refer someone to me to rent a house, I will pay you a commission of 1/2 of the second weeks rent." 

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That would effectively drop your down payment to 4%.This is likely only going to work with a small, local bank, and a seller who's pretty motivated and/or business savvy, though!

They claim that the wholesalers are not real buyers, only closing if they FIND the real buyer, therefore they are in effect selling the property on behalf of the seller.The wholesaler's argument is that they are PRINCIPALS in the transaction, exercising their right to withdraw from the contract if contingencies are not met, or by exercising the purchase option often now included in purchase contracts.