I have them on my book shelf.

My advice is limited to knowing your competition.

If you have a CC with a high limit on it and they are mailing you these "balance transfer" checks, you can do a lot.

You can always sell the option contract, though the market for purchasing options is extremely limited.

I heard from a very well-informed mortgage broker that Fannie Mae was reportedly very close to announcing a bump in their property limit from 10 to 12.

If the structures are wood, or have a flat roof, the choices will be limited, and much higher.

I want to hold and rent the property with the help of a good property manager while I remain in NYC.I eventually [5 - 10 yrs] would like to invest full time and build up a sizable portfolio [$50M+] with the cash flow to allow me to live a very comfortable lifestyle.

This becomes more important for plan 2, but applies to both as we intend to start locally.Due to our limited income we only have about $10,000 we can invest at the moment.

I've read the other posts about Lifestyles Unlimited, but couldn't find any info on the 1 day expo.

Trey your on the right track but you should be able to reap the benefits and limit your liability as well.In CA, we have this form below that basically tells a seller that you are not representing them and they should seek legal,tax,etc. counsel if they need it.http://www.wrightrealtors.com/pdf/non_agency.pdfThe good thing about TX, is that the laws are much different and the disclosure requirements are much less.