Also, keep in mind that if an association does allow you to rent, that in most cases there is a pretty long waitlist to get on it usually 2-3 years.

This tells you how quickly the REI should recover their cost.3 - Starting Equity:  Subtract the debt principle (mortgage and any other debt directly associated with the purchase of the property) from the Property Value (this could be higher/lower than the purchase price). 

Make sure you understand all of the requirements associated with purchasing and closing on a foreclosure before making any commitments.

I do have a company O’Connor and associates that fights my taxes for my 17 rentals every year.

I have clients and associates who have.

The relevant text from the law is:(B) A LANDLORD, LESSOR, SUB-LESSOR OR GRANTOR MAY CHARGE A FEE OR FEESTO REIMBURSE COSTS ASSOCIATED WITH CONDUCTING A BACKGROUND CHECK ANDCREDIT CHECK, PROVIDED THE CUMULATIVE FEE OR FEES FOR SUCH CHECKS IS NOMORE THAN THE ACTUAL COST OF THE BACKGROUND CHECK AND CREDIT CHECK ORTWENTY DOLLARS, WHICHEVER IS LESS, AND THE LANDLORD, LESSOR, SUB-LESSOROR GRANTOR SHALL WAIVE THE FEE OR FEES IF THE POTENTIAL TENANT PROVIDESA COPY OF A BACKGROUND CHECK OR CREDIT CHECK CONDUCTED WITHIN THE PASTTHIRTY DAYS.

@Adrien S, do wholesale deals typically bypass the inspection and associated contingencies?

Also, joining your local landlords association to connect with other owners there may just be a good idea.

You can build an entire business around it and there is an association that governs it nationwide. 

Would you recommend joining a real estate association?