This money is disposable.The ernest money deposit is typically going to be the substantially larger sum of money which is made non-refundable after a specific set of contract clauses (inspection period included) expire.

Thanks Leslie, I just downloaded it.Lonnie's book, Deals on Wheels was one that influenced me a lot as I was considering going into real estate seriously.

If you have a substantial amount in the bank then a statement will also help.

That could be what you ideally want to use as it has substantial benefits for purposes of gifting.

Besides, 52k in this example is very substantial cash flow at the end of the day.

If you are claiming to be a real estate professional on your tax return, you must be able to substantiate 750 hours worked in this profession and show that this was more hours than you spent in any other business endeavor."

Thanks for having a well thought out forum with a substantial knowledge base.

They put a substantial amount of security deposit at the beginning of the lease.

Being a licensed agent you could use the MLS to your advantage and start pulling the expired listing report everyday and mailing to them with the intention of finding motivated sellers who would allow you to take the property subject 2 the existing financing in place.You could then turn around and lease the property for cashflow (provided the numbers make sense) or sell to a retail buyer who wants owner financing and has a substantial down payment.

Steve BabiakThe rent estimate is because the market is greatly influenced throughout the year.