Your proposed business plan, your strategy sounds fine, but you need to establish bench marks as to the performance you require out of your property, can't expect one unit to give you $1,200 a month without considering the property type, potential rents, area and value.Your first step is to actually learn real estate, not investor or operator strategies of dealing in real estate.

They won't buy anything before 1950, and I think they have a lower limit on home value they will offer on.Basically, it seems they have very specific criteria of what they are looking for - newer homes in established neighborhoods at or above median value.Would be interested to hear anyone else's experiences.

As far as traditional mortgage loans have it be conventional, FHA or VA there are three main things banks or brokers will look at. 1) Credit - your score, how many trade lines you have, how long you've had it established, your timely payment history, etc. 2) Income - what your income is, how long have you worked there, can you prove consistency (I.e.

I'd say to get the best value is still a gamble and it's to use their service and sell in a few years before any CapX comes due and sell at the full market 50k-55k.

If these tenants can't pay then you're going to have to go through the headache of getting new tenants and establishing rules, most likely will not go as smoothly as these. 

After a lot of research, my new understanding is that Equitable Interest established through a contract (say in a Wholesaling or Lease Option deal), enables you to market the contract but not the property itself.

Obviously I would do my due diligence and have a good exit plan in place, but I just want some input from my established investor friends. 

I would like to establish a solid local networkJohn

establish an end goal(s), set up your efforts towards reaching those goals

If you find a really great deal and establish a relationship with a partner that has good credit but not the necessary down payment funds, you both might benefit.