Of course, if you apply leverage (debt) to these investments then the returns will be better than 7 or 8 percent (which is why we are in this business in the first place). 

Acceptance of rent from someone constitutes a legally binding, oral lease agreement.

Its just a matter of time till Mary Jane is legalized in most states.

Is it legal??

Hello my aunt unfortunately passed and she left me her condo and I wanted to evict her husband for multiple reasons one being he thinks he is going to stay there and not pay the bills and me basically take care of him, so I wanted to know is there any issues or problems with evicting someone during the winter or any other legal Issues I may encounter during the eviction process?

Do not rely on it for legal advice.

They required personal finance statements and 3 years of tax returns to start as well as an analysis of the operations of the building, which came out favorably (1.66X debt service coverage, I think the target is 1.25).

If this deal is debt constrained, a 25 yr am will change your loan proceeds (your down payment will need to be more to meet the DSCR) considerably.

@Kristi Kandel, having the LLC hold the title shouldn't be too tough, but without a good business record, you'll have to personally guarantee the debt. 

That being said, you can always use your wholesaling skills and just broker property legally as an agent.