Deliberately have a few challenges in your screening process - it will weed out "entitlement mentality" problems4) Allow payment plans, but create system to track when payments due, so they don't keep falling further behind You will need to call them on due dates or they will fall further behind Be prepared to give a strong NO when asked if you will change rent due dates to "make it easier" for tenants to pay rent based upon their SSI or paycheck dates.

We are prepared to offer: Purchase Price: $460,000 Down Payment : $23,000 (5% of Purchase Price of $460,000) Interest Rate: 5% = $107,815.60 Monthly Payments: $2,000 x 60 months = $120,000 (Principal & Interest) Term: 5 Years (60 months) After 5-year term: Lump Sum Payment of $424,815.60 from refinance with conventional mortgage Total Sale of Property: $567,815.60 $23,000 – Down payment $120,0000 – 60 Payments (Principal & Interest) + $424,815.60 – Lump Sum Payment $567,815.60 – Total Payment for Property Seller financing is the best way I can give her the highest possible price.

For 3-4 units FHA requires the property to pass its self sufficiency test.

The way to figure out if a deal is worth it is a time tested formula:Figure out your ARV.

Even if the law change it takes months or years to be implemented so you will have plenty of time to prepare and get licensed. 

If sellers are offloading as much inventory as you've eluded too, you may see inventory pile up which leads to more days on market and lower sales prices.It doesn't hurt to get out there, see properties and submit offers to test the market so long as you're prepared to pull the trigger once you find something worth investing in.Best of luck to you moving forward!

I am thinking about getting my license for real estate in North Carolina.I understand there is a required 75-hour course, test, background check then a 90-hour course that needs to be taken.My question is - do I need to associate myself with a Broker-In Charge before I can switch from a Provisional License?

We do have a meeting with CPA and lawyer coming up but I would like to be prepared with potential questions to ask. 

Bonding insures your project gets done, insurance Work Comp and Liability (Yes BOTH) prevent you from being hung out if something goes wrong, and licensing insures that a minimum amount of knowledge exists to be a GC.Skills test- go and see a finished project, see one under construction too.

A little bit every day, and in no time you'll have tons of knowledge under your belt and will feel more prepared to start your REI career!