My strategy is to be acquiring 1 home every 1-1.5 years with 20% down until I hit 4 properties.

The neighbor said the house had refrigerated air before it hit the market, so I figure that's what I'd put into it if I got it.

Paul Zofsak - David hit the nail on the head.

Elizaveta, I will take a crack at it since no one has responded yet. 1) My first deal was a fairly in depth rehab which included foundation repairs, window replacements, garage roof replacement, electric work, plumbing work, floor refinishing, and a lot of the things we do to almost all our rehabs (new light fixtures, new outlet covers, new appliances, new doors, etc).

I bought it the same day it hit the MLS and he was just happy to get it under contract.

The installment contracts generally used by RE operators/investors do hit on the DOS issue, you're correct.

There is always the "turn key" option - but you probably aren't going to hit the 2% rule on that, but it might be worth it for the ease and convenience.

A local wholesaler gets properties locked up either before they hit the MLS or directly after because they know the right people.

I am also talking with a mortgage company in Phoenix that deals primarily with Canadians.Brandon Turner Congratulations to BP, I gather we have hit the 200,000 membership mark.

Absolutely not, look up "quiet enjoyment" which is the right you give to a tenant, they can tell you when you can or can't do something, won't be long before they get feed up and kick you out or they pack up, leave and hit you up for costs and damages.