I picked up a couple of books and already finished one - ABCs of Real Estate Investing is a good newbie book if any other newbies care - easy read, and provided some basic guides to determine property profitability, though you can probably find the same info on this forum in one form or another.

Bruce,On the profit splits.How are profits determined?

Review your local real estate licensing laws to determine what they define as activity requiring a license.

You still enjoy all the rights of property ownership, just as you would here in the US, and the bank cannot do anything to the property without your written authorization.

3) Any other expenses I need to consider outside of debt servicing, vacancy rates, property mgmt, taxes, and maintenance when determining if a potential investment property would be cashflow positive?

Currently, we're pre-qualified with a lender to purchase investment properties.I believe the biggest lesson I have to learn is determining the cash flow potential of properties by comparing sales price and against gross rents - the 2% rule as I've read.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.

If not, you begin the process of forever barring their right to redeem the property-which upon completion gives you actual ownership of that property.2.

Depending on who your buyer is will determine the discount you can sell at.

These are all important questions in trying to determine what is next.