Purchase price: $453,000 Cash invested: $80,000 Personal property and first real estate deal I did as a realtor

I'd personally pass on this deal, the return on investment (ROI) wouldn't be high enough in my opinion. 

So I'll go out there and find some cash buyer looking for rental :)Thank you, Mitch, you helped me a lot and taught me a few new things in the real estate business! 

@Tim JohnsonThere are essentially two ways (and a few variations) to purchase this deal, depending on how the owners are selling it:As a going concern:  In this instance you are buying the business, so it is the business you evaluate: assets, liabilities, revenues (historical: 3 - 5 years), operating costs (historical: 3-5 years), future financial projections, goodwill, etc.    

A great way to network and meet people in your local community is to attend in person meet ups.

I hear great things about Innago personally, but I use Baselane for a rent collection/banking/accounting.

There is significant risk to this business and people generally only want to show one side of the coin. 

If anyone on here is experienced and willing to share information about getting into this game, connect with me to set up an interview so I can ask you questions, and/or collaborate on a deal, as I would love to gain hands-on knowledge and experience as quickly as possible, as well as cultivate trust and relationships that lead to more business and deals in the future.Thank you!

I really like that idea of adding a separate page, apart from the screening company, about more personal questions like how long they typically live there. 

There are limits to how many Fannie Mae (personal) loans you can have, which is 10 per person… so if you are married my first suggestion is to buy your properties in one person’s name to maximize  how many loans you can have.