Evictions can take a while, and damage needs to be fixed, and then some kind of marketing for a new tenant  I recommend three months reserves for every property  I recommend that you be licensed so that you can show the property in case it interferes with your realtor laws in Oklahoma  I also recommend that you have some kind of a collection company that takes the payment directly from the tenant buyer to the mortgage company not to the seller  If you do have reserves, and the tenant buyer wants to buy the property, I use a reverse assignment technique that basically create your equity in the contract in the form of a note, attached to the property, and instead of two closings you have one closing, a new contract from the seller to the tenant buyer, but you get paid when the house closes and pays off your noteI love Oklahoma City because it has great  Yeilds between what you get from rent and what your mortgage payment is PITI

It's kind of like a really nice private man camp I guess.He is currently collecting about $5,500 in rent at 100% occupancy and covering all bills for the tenants.

I am currently renting a place for $1,000, and I would like to "house-hack" and live in the 1BR unit (all numbers assume I am collecting rent from all three units though):Offer Price: $365,0003% Seller Assist: $6,400Total Income: $3,200Unit 1 Rent (2 BR, 1 BA): $1,250Unit 2 Rent (2 BR, 1 BA): $1,150Unit 3 Rent: (1 BR, 1 BA): $1,100Total Monthly Rent (before vacancy): $3,500Total Monthly Rent (assuming 1/12 months is vacant): $3,200Total Mortgage: $1,940Monthly Mortgage: $1,700MIP: $240Total Expenses: $1,065Maintenance/Repairs: $280/month (~8% of total monthly rent)Property Taxes: $240/monthInsurance: $170/monthCapEx: $175/month (~5% of total monthly rent)Water: $150/month (not metered)Miscellaneous: $50/monthFYI - did not budget for property management, because I intend on living here long-term and self-managing$3,200 - $1,940 = $1,260$1,260 - $1,065 = $195 cashflow/month

Then collect a security deposit first and last months rent then you have no interest and the same money up front.

I love to travel and have traveled extensively around the world - I've been to four continents and countless countries, I've climbed waterfalls (yes, that means going up against the water), kayaked with whales, and successfully avoided a police search party in Colombia (what happens in Colombia, stays in Colombia). 

Take calls, collect rents and boss (xxx) around a little when I need him to do some maintenance work!

.), else it can be considered as benefiting one over the other.Income has to be divided up-front, i.e. cannot be deposited in one account and then split from there (this is where a property manager will help as the rent can be collected by them on behalf of the owners).Not familiar with a custodian form 490T, would you please elaborate?

Looking to find an escrow company in NJ who have extensive experience with creative real estate transactions.

The partners and myself have extensive construction, law, and insurance backgrounds so we will also be doing some flip projects.  

Okay...okay...yes I'm seeking the silver bullet...but that aside I would appreciate your collective insights!