They will need possession of the qusip as well, an additional expense.

The value of your network is much greater than the value by which they will ask you to increase the limit of your credit card to stair step you up the next level of the dream level they will try to sell you.If you can afford it, $1500 out of pocket isn't a huge amount to invest to meet a few good people, but the entire business model is based on establishing value in an illusory cult of personality.I know more useful millionaires from the bar at my local steakhouse.

We sold our first one under the new model before it was done, the next one in a few weeks, the third one ....etc etc ... we have maintained an average of under 30 dom each year for the past five years.

My business model includes wholesaling and renovating, I am looking for hard money lenders and contractors/subcontractors in the area to suplement my team.

For my current intern, what I have him doing is I have shared with him my investment goals and financial models, and he is running leads in our model to see if it fits the goals of our company.

Over the course of 2 years, they probably made $30K profit.They actually used theirs, so the business model was a little different...it went like this:Buy a used RVRehab itUse it for a few months in GalvestonBuy another bigger better one while that one's in GalvestonRehab itBring the other one back, retouch it and sell for a profitTake the "new" one down to GalvestonBuy another bigger better one while that one's in GalvestonRehab it....you get the point.they went through about 6 trailers this way, til they stuck with the one they have now.And if they sold the current one, they'd turn a $15K profit on it.Point of all this is, if you're handy and frugal, you can make money at it in our area.Funniest thing is, the 3rd one they sold...the buyer wanted the truck too.

It is also a good idea for finding a way to make it easy for them to book there stay and keep track of when your units are occupied.Along the sames lines an executive stay can be a good business model if you are in an area where frequent business travel might occur.

Kerry,So sorry you are having these issues.Most of us have been through the "school of hard knocks".You got excited,over confident,and bit off more than you could chew.Even if you get these filled up and rented out you will need to generally show 6 months of stable income for banks to consider it stabilized.If you throw a bunch of tenants in for one month or two you haven't proven the income model yet to a lender.Where was your real estate broker during all of this to protect you and say STOP do not do this!!

Now mind you they were all likely illegal operations.While its still a federal crime, I will not allow growing pot, smoking pot, or possessing pot in my rentals and I voted yes on 64. 

That tenant has a lease and can begin moving in upon the start of the lease even he hasn't paid you and you would have to evict to regain possession of your property.