My real estate goals are as follows: [list]Within one year - buy 1-2 properties (5-10 units)Within two years - buy 2-4 properties (10-20 units)within five years - possess a 100 unit real estate portfoliowithin ten years - possess a 500 unit real estate portfoliowithin twenty years - possess a [fully automated] 5000 unit real estate portfolio[/list:u]My minimum cash flow requirement is $100 per month after PITI, Maintenance, Management, Vacancies, Delinquencies, and other expenses.I plan to accomplish these goals entirely using creative financing while I repair my credit.

The day it was weatherized, it has been in the possession of the mortgage company for 30-60 days.

When you write your 1 year, 5 year, and 10 year goals, don't fill those goals with possessions.

I mean ever.Yes or no, not maybes.The letter of intent basically says,Name of owners, property name, today's date, name of prospective purchaser, name of purchaser's company, intention to purchase on these terms as a principal.Purchase priceif lease with option, market rent, 12 month term with extensions, exercise price, etc.If subject to, purchase price, date of possession, date first payment, date of walk through, etc.If wraparound mortgage AITD, purchase price, note payment, interest rate, etc.

This provides a more efficient means of correcting the problem [see also: Heggstead petition]. 6) Lastly, perfecting title to a property acquired by Adverse Possession.

And I think the contract needs other items, such as stating inclusions/exclusions, non-encumbrance, permanently attached fixtures, property condition on possession, final inspection rights, warranties transfer, title search and transfer of title, and contingencies.I understand that there may be a fee from the lender for the transaction in the neighborhood of 1%?

From what the property manager said, there are back maintenance fees and some other fees that need to be paid as well as lawyer fees that have to be paid in order to get the property placed in my friends’ possession before the sale can take place.

Initially too, cash flow from the rents is not the object, so don't get greedy, you need possession and authorization to make repairs and improvements.

@Dulce Beltran For what it’s worth I’ve never owed a car or any material possession that created more Joy and put a consistent smile on my face other than a Tesla.

If you have the right to possession by purchase, and it's vacant, drill the locks.