You probably want to factor in renovation or at least minor repair costs and 10% selling costs above your profit.Typically that is true but in this case, no agent fees involved as the buyer is the current lessee.

Looking to refi,Credit Union says I need a "Deed In Fullfillment Of Land Contract" is this something I can do, or do I have to get a lawyer involved?

I've purchased a couple properties before that involved heirs and the title company made sure things were taken care of properly.

It involved buying each property, then knuckling down and paying it off before repeating the process on the next.

I would like to know how many total hours a good self manager is involved in coordinating handyman, placing ad/signs, handling emails/phone calls, verifying employement/references, showing properties, movin in walkthrrough, chasing checks and etc...

I just get concerned about having too many different property managers involved in too many different areas, it eats up a lot of time to make sure they are all doing OK versus just having one area and one team to cover.

I dont believe most of the small guys have a clue what is involved or how it could benefit them, ones I have dealt with are comfortable with eeking out a job here or there to pay for daily life, they have no ambitions for anything more.

(about loan purpose) Good to be aware of, since regardless of what part of the housing industry you're involved in, this comes up.For me, as a hard money lender, I don't do owner-occupied loans, but often run into non-owner loans that are for consumer purposes.

There are a ton of fantastic articles on rehabbing here on the site, and countless conversations here on the forums.Otherwise, jump in and get involved in the discussion -- you'll find that you learn a ton from interacting, and it will help you quickly build up your network.We're here to help . . . use us as your group of 100,000+ mentors!

I just want to learn the process involved and what is necessary to actually purchase a property.