For instance, a goal in your plan may be 'building an effective buyer list'.

If you have a net operating income of $40k and the offer is $100k per acre for 3 acres the effective cap rate at the offer price is 13.33%.

You need to know your market, occupancy and competitive rent rates, renter expectations, your goals, risk tolerance, temperament, and your resources.You need to know your local tax rates, state/local landlord rules, housing authorities, insurance sources, financing options, occupancy and employment trends.There are crazy tenants but effective management can minimize the risks.Good luck.

I wanted to be the boss and have always felt I have the ability and tools to do so.

If you can put together a set of "tools", and present them as "benefits" to other active investors, brokers, etc. you will learn the business hands on, and work yourself up to what you really want to do.

I’m not going to repeat what they said, but they basically said that they were using tools from a lot of different sources to stay successful.

Second is that your are effectively "selling grandma's house".

Real Estate Services do have specific definitions, and usually involve those things required to effect the sale of the property, not just bringing buyer and seller together.If, as a bird dog, you are simply finding a property and bringing it to the attention of someone else, and not involved with negotiations, or "performing real estate services," that are needed to actually transfer property from seller to buyer, there are no laws against that.If I'm wrong, here, I'd love to read the statute that requires a license to say "Hey, Joe Investor, there's a vacant house on 13th Street.

Your annual insurance is 1.5 months rent so the 50% rule is probably going to be in full effect.

In that case, we had a very short closing deadline and the financing contingency was still in effect.