They had been interested in acquiring the property themselves, (they developed in a downtown location and are a little bit landlocked), but had begun a huge renovation on campus when the owner of the property finally considered selling.

This could be a good position for someone who is new and looking to learn more about real estate.Below are some more details about the position:I have acquired a lot of rental properties for my own portfolio and my investors' portfolio.

Properties acquired for rehab/flipping are acquired and held for sale and are not held for investment as that term is defined for 1031 Exchange purposes.

My main intentions will be having it for a rental property, but once I get a few passive income rentals going, I would like to have the option to sell some of those, or acquire new one just for Lonnie deals.

I plan to lease option the homes that I acquire this way, as again, many people can't get traditional financing.

Just curious here, but for the agents here, what % of your time do you spend trying to acquire new leads.

That's the nature of a Wholesale deal.As far as acquiring buyers, the more people you send the deal to the more likely you will find a buyer quickly. besides it costs nothing more than a few minutes of your time to do this via email. so the credibility of these buyers is important but that will work itself out.

Since then I bought out the other partners, and have not purchased any more SFR personally, but the company has acquired 3 more.

No offense, but your assessment of their poor money management is irrelevant, if they acquire the credit history and have the income to qualify, their eating out all the time of blowing money on toys is not an issue, it's their money.

And, the property must appraise for the sale price or higher, if it doesn't you need to make up the difference between the qualifying loan amount and the sale price.You also need cash reserves after closing the loan, it varies for the type of loan but conventional loans for owner occupied is 3 times the payment (exceptions can be made)rental properties will require about 6 months reserves of payments, the more properties you acquire the more reserves you'll need with other properties considered.