I have several "out clauses" in my contracts that will allow me to back out of the deal if absolutely necessary3.)

I was a mortgage broker from 2004-2009, my father is a contractor and I have several friends that are realtors - so, the industry as a whole is not new to me. 

You have several options assuming that Maine has a 30 day notification rules.1)  You can notify the tenant that you are terminating his lease and he must move out by Aug 302) You can notify the tenant that he is welcome to stay on as a month-to-month tenant but his rent will increase by $300 (or more) as of September 1, or he can sign a 12 month at a $200 increase.

Good stuff up there.With me, especially because I've only accrued about 12 months experience in Chicago where we are buying right now, anytime I cannot identify true, apple-to-apples comparables, I might just pass on the deal altogether.Especially in Chicago where you have several types of homes (bungalows, ranches, cape cods, georgians, etc.), you really cannot comp one with the other unless it's the same style.Here are some general tips when comping homes:Never cross any major highways, and try not to cross any major streets if you can.

This depends on several factors.

What I can offer: - my experience as a buy and hold investor (26 units) - insight in the markets in Latin America and spain where I spent several years and in my home country Germany - a good time :-) Looking for:- your experience, espacially with finding deals and raising capital- general information about this areaI am also interested in vacational homes / AirBnB and mobile home parks. 

One work around is to use an FHA 203k streamline, which several of my clients are doing now in Berwyn, one of my target markets.

I’ve bought several 50k type properties and will be buying many more.

Any deal that gets tossed my way has already been turned down several times and isn't worth my time.

I've been soaking up information for several months now trying to arm myself with the tools I'll need in order to start finding great deals and making a steady flow of passive income.