I hear a couple different methods from people here on the forums, some like to go to the house themselves and gauge repair costs, some take the sellers estemate and pad it up in case they are wrong.

when you say non compete do you mean that no one can go around your back and steal a property from you or do you mean training a bird dog not to use your methods for a certain amount of time?

I find it interesting that you invested in the GURU courses, and you were unable to grasp the creative financing methods.

The main thing you want to do is learn the "subject-2" method of purchasing property.

Please look through all of our forums as they hold much information that will help you on your journey when you become a full time investor!

Whooooooo . . .There is an art, and a systematic method to doing option deals right and giving 80% credit is not part of the scenario!

Further, it has been fascinating to see how many books and articles deal openly with methods for fooling lenders.That said, I've contacted several local real estate attorneys, asking if they handle Subject To closings.

Thanks for the background Jeff and I widh you the best of luck on your new journey that is ahead of you!

If YOU are going to operate it, and invite J.Q.Public in for a fee, in my experience the preferred method is by "licensing" the use....NOT renting or leasing.

You also MAY want to use a reversible method in case you wish to sell later.