I somehow thought a qualified intermediary was just analogous to an account custodian who can take care of the mechanics but didn't really advise on particulars, but I suppose part of them ensuring all legal requirements are met is making sure we structure deal in accordance with the law.

Also, your purchase agreement would get much more complicated, as you tried to carve out all potential liabilities that should be, to the extent possible, allocated to seller and set up a complimentary indemnity mechanism.  

So I have a good paying job right now in auto sales for Honda but I’ve always wanted to try real estate and my current workplace is going through management Changes which will result in some people getting moved around to other dealerships so I am strongly considering making my transition into Real estate if I have to learn new material for a different Auto Make anyway.

A $300,000 loan at 3.75% is going to cost you $1,389.35 per month (just for principal and interest).Your taxes and insurance will vary based on your area, but I always figure about $200 more for taxes and insurance, which brings us to $1,589.35 per month PITI.Add all of your other monthly debts that would show up on your credit (credit card, auto loan, student loans), and then multiply that number by 2.

Mechanical and mortgage liens along with unpaid tax liens but I have not seen anything beyond these during a title search. 

I don't think an investor should expect a big bump in value as a result of replacing mechanicals. 

All tenants are on Auto-Pay and even though we paid a premium compared to previous deals, this property is in an appreciating area and is by far my favorite property we currently own.

It also depends on how much debt you have ie Student loan/auto loans.

Every square inch is BRAND NEW from foundations to framing to mechanicals We added top of the line finishes and furnishings, but also found the perfect tenant for our attached commercial space: a bourbon bar for our guests.

Every square inch is BRAND NEW from foundations to framing to mechanicals We added top of the line finishes and furnishings, but also found the perfect tenant for our attached commercial space: a bourbon bar for our guests.