It is always good to have available capital on hand but not good to have it just sitting in cash.

I evaluated the deal looking at comps in the area (hard to come by), the 50% rule, the 2% rule, and common sense based on my personal situation, knowledge, and availability.

The coaching terms should be clearly defined; days and times he is available, in what ways you will be coached (email, phone, in-person), and your overall access to him.

Pay off the most expensive student loans (but probably not all of them) and use the cash available to buy another rental at a steep discount since you don't need a mortgage. 6 months later when rented with a good tenant lever it up and do it again.Again, in your youth you should be trying to trade high priced debt for cheaper debt.

Do google searches for the owners name if you have that information available.

Some facts:- I am in South Carolina- I have read the SC Landlord Tenant Act to no avail- I have searched the forums, also to no avail- My "mentor" has no experience in the situation- Spoke with foreclosure attorney - said to evict them and told me which magistrate to go seeI look forward to your replies.Shaine

Unfortunately in my area no financing is available so I would want to be all in for $50K or less.

Robby - I have not gotten to the serious looking phase yet, just browsing available listings in Minneapolis (passively).

Me too I shows 300k available on 150k offerNo problem.

The SMS alerts are only available to our PRO members, however.