Make sure the buy out agreement is worded properly though so it is not a prepayment of rent that will be due in the future.You must refund the security deposit or provide an accounting of sums deducted from it, within 60 days of lease termination.

5) Consider meeting with a few agents in your area even if you are just getting started!

They stated due to regulatory changes in IL, they can no longer provide those reports for rental applications.Does this mean I no longer can do a background check in IL or is there a work around with possibly another service I can use?

Partnering with Glenn Klingensmith provided valuable local insights, making this an attractive and strategic investment.

I would do the following, at a minimum:-request that he complete your rental application (hopefully you have a thorough application),-request identification documents (government-issued),-require that he provide you with proof of his visa status and the authorized length of stay,-verify his employment, income, and financial stability, and-contact his previous landlords for references.If he cannot satisfy these application requirements, do not approve.

5) Consider meeting with a few agents in your area even if you are just getting started!

Having a Pre-approval letter or better yet a loan commitment and a Banker to call and reassure the sellers agent you can close in 30 days or less also offers a huge advantage.In this market using a DPA is not a bad idea since rates are high and when they drop you simply refinance for a lower rate and payment. 

I am also looking to connect with RE agents in the area to gain a better understanding of what is currently on the market and how these types of properties fit into the Tampa area.I'd like to also acquiring any insight into current supply trends, as well as the demand based on occupancy for these types of properties.

I'm particularly interested in the life that real estate investing can provide for my family.Outside of real estate, I enjoy hard work, learning new skills that will help me in my journey to success, and of course spending quality time with my beautiful daughters.I am Excited to learn and connect with you all!

This is can provide investors with more flexibility in cash flow, allowing potential investment in multiple deals at once.