For any other newbies out there, I would recommend reaching out to GCs and pre-screening them to find some that you will want to work with in the future.

I'm planning to give her a call in the morning and would appreciate a list of questions to ask in a FSBO screening.  

There were couches, TV's, washers and dryers, kids toys, and a ton of garbage bags all over our front yard and in less than 15 minutes we were going to show this house. 

When I say quality, a quality person renting a sub quality place isn't happy, if they have a situation like a foreclosure through four years ago and they want to be homeowners again, they should be willing to jump through some hoops as far as rebuilding your credit historyAlso I mean quality is far as the quality of the location and the quality of the house that's for rent, many houses for rent are crap, and the best school districts and safest neighborhoods are only houses for saleCharles I've been doing this for 30 years and with the times that we are in right now with tenants having such a hard time getting a mortgage and getting out of the Rent  Trap, this is not a buy-and-hold strategy Like in stocksI live in a very expensive area Los Angeles and the average person can buy house because they're 900,000 to 1,200,000 where I live and lease purchase has a place here because many people can get mortgagesBut if you lived in Pittsburgh or you live in Cleveland or you lived in Orlando, you can make money with lease-option assignments or sandwich lease options if you've got a little bit of money for reserves as a real estate entrepreneur operatorWhat's in it for the seller is they can lease with an option hopefully with the right screening of tenant buyers that have ties to the community and strong employment where they're  not going to lose their jobsWhat's in it for the investors is that they can do a lease option assignment or sandwich and make some money without getting a bank loanI do like lease purchase over lease option for the seller because it's a stronger commitment and a definite end to the dealFor the buyer I'd much prefer a lease with an option with an extendable option in the initial contractFrom a business point of view if you're interested in getting better appreciation you can just do one year agreement and ratchet up new agreements at 5% a year or a new appraisal every 12 monthsI have put together a lease purchase arrangements where the sales price has been tied to either a new appraisal or a set floor price whichever is higher, to prevent a loss; in stocks this is called " collaring "where you have a  call order at a lower price to prevent a big loss and an order to sell a certain high priceSee protective collar http://www.investopedia.com/articles/optioninvestor/07/protective_collar.asp

If you PM me your info, I can add you to my buyers list after an initial screening.

Plug into Heather Bayer's podcasts & devour them, disclaimer, I am not Heather, don't play her on TV and do not receive $ for recommending her stuff, lol.Happy hunting,Kelly

She did advise me a screen is missing that I wasn't aware of.  

What the rules tell us is that you may not personally benefit from the IRA (i.e. paying yourself to manage) or provide benefit to the IRA via the provision of goods or services (i.e. swinging hammers).The general interpretation in the industry is that you may administer the investments of the IRA, so activities like screening tenants, signing a lease, collecting the rents, hiring vendors to do repairs, etc. is acceptable.  

My name is Jay Taylor, and I'm very much a newbie to RE investing but have been investing on my own in stocks for 11 years and working as a freelance investment writer for 7 years (previously full time, now as a side-hustle for one client).My RE journey began when my brother-in-law sent me a link to a property listing in Boulder, suggesting that we try to find something for him to buy that I can manage (screen/rent/landlord/deal with things that go bump in the night).

So the problem was in our life style.So we came up with a plan, We were to cut out eating out, newspapers, cable TV.