(This is my first income property analysis, so be gentle…LOL)Asking price- $130,000Down Payment $5,000 (3.85% I know not much skin in the game)Required maintenance $0 (I am not naïve enough to believe this, but haven’t gotten any concrete data to refute this claim (By the owner).

Just remember to look for an experienced realtor that UNDERSTANDS the wholesale game an the INVESTOR thought process....

The owner is OK with that since she knew the "game" going in.

Lenders and servicers do sort of know how to play the game.

If you and your attorneys with the seller play games back and forth it will only cost you the buyer and seller a bunch of money and make the attorneys happy.If the seller wasn't of sound mind at the time then they could simply void the listing agreement and withdraw the property off the market.

Steve that was not a commercial broker to me that you had before.A leasing broker should be a leasing broker period.A sales negotiator should do the purchase and sale.There are brokers that do both but people at the height of their game only do one thing for the most part.You can have a generalist that does 2 things or have 2 specialists working for you that do separate things.The broker wanted the sale to make a big commission so was scaring tenants away.No tenant will want to make an investment into a space knowing they will be moving right away.You can have language in your leases allowing you the right to terminate early but not giving away you are selling for development.Ultimately after the lease is signed they will find out in the newspaper etc. when word of the project comes up.Your previous broker was not doing their fiduciary duty to put you first as a client.

I take pride in my career as a film editor, but there is no way I’m going to be comfortable with some random guy off the street jumping in the game with a camera and a computer taking a $199 seminar on video production thinking he can jump in at my level with my years of experience and hard work.

One of his ideas was to break the loan into somewhat 2 loans: The first being a % of the Down Pmt that is personally guaranteed and will be paid off first giving owner the 'skin' in the game so to speak...Its all wrapped into one but a small portion is personally guaranteed.He said he didn't need money down either but when you get down to it, putting a little down solves the problem.

Scoping out neighborhoods is a survival tactic for me.Physical signs that I look for -* Dumpsters* Contractors coming and going* Elimination of poverty industry (Check cashing places, title pawns, pawn shops) in favor of more bohemian establishments (Coffee shops, box stores, cafes, etc.)* Clean-up and neighborhoods taking care of themselves.

It was quite basic, but I am still very new to the rental game so I enjoyed it.