More details about the deal itself:They are asking $120k and the only initial repair I would do is paint the exterior to protect it from the elements.

This is a key element of the process, where they can learn all they need to about there options and choose the best one, which may or may not be a LO.

There are 3 basic elements to a contract - offer, acceptance and consideration (something of value changes hands, normally money). 

Its important to remember you are looking for someone to watch do this business and not just someone who has packaging for their "program".

We see hedge funds, corporate purchase, bulk packages, (you name it, however you want to label it) coming in and picking up various numbers of turn-key rentals.

You've got to make assumptions around how the building will behave, how people (tenants, managers, maintenance personnel, the FED, other investors) will behave.Subjective things are much more complicated to perceive, yet future performance is very much a function of these subjective elements that you have no control over.

Dave and Franks stuff is pretty original, and the data package they give you is purely from them.

If you can buy 3 or 4 as a package from an existing landlord, this will move the needle for you.

The next thing I would do is package all the marketing materials together in an electronic folder.

I would have to just put the money upfront for the earnest money to put the home under contract, pay for the inspection and appraisal then package all of the reports together.