Take whatever estimate you receive or estimate you create yourself and add 15% for the unforeseen.

I would also like to work with an individual who will stay organized and be continually shopping to find me the lowest rates for my personal and future rental properties.

I am looking to move out of Florida however so, this isn't to big of an issue for me.I have looked into companies that create corporations to use retirement funds as capital in a business (avoids the taxes and penalty) but not sure how this would work with real estate investing.Does anybody have any experience with this sort of thing?

There are 3 ways to create returns on rentals: buy with equity in place, benefit from appreciation, and cash flow.

I've always maintained that we don't need to create new laws and taxes, rather enforce and close loopholes in current laws. 

My goal is to create passive income through investing specifically Buy and Holds.

- you make 50% of the net profit - that is net less advertising or expensive - so if the expenses are $1,000 you would make $9,500.00 and I would make the same.The expenses are usually the cost of advertising the property for sale.So............... it you are ready to begin creating leads - this is what I suggest you do ---Farm neighborhoods to look for FSBO's, send me as many expired listings as you can in the neighborhoods where we are going to invest, Go to housing court 2-3 times a week to listen to the cases and meet landlords after their case is called, run some ads in the local papers (I will design the ad for you), get me a list of all the local auctioneers in the community, put flyers on super market bulletin boards, ask 5 people a day if they know of anyone interested in selling their real estate.Look for commercial and business real estate for sale - get me all that information and we'll make a call to get information and make them an offer (you present the offer for us)Later in the "Mentor - Apprentice relationship we will advertise on radio.Any questions?

My bigger question for you now is should you even rent to this individual?

Personally, given the way I'm wired, what I've found useful thus far was listening to all the podcasts and from those I compiled a recurring number of book recommendations in order to build the foundation for the kind of business I want to create.

I've created a network of brokers, buyers and investors, but never had control of the asset, therefore it was very difficult to make money.