These costs have already resulted in PMs that serve smaller (less than 25 homes) HOAs to go out of business.The fees, business costs and government involvement would be more tolerable if the law accomplished its’ intended goal of consumer protection.However, the law is vague on the most simple demands and accountability for property managers: 1) there are no direct statements mandating PMs comply with all State laws and an HOA’s governing documents 2) no direct statements that require PMs to advise an HOA when they observe non-compliance with the law or to report to DORA when such advice has been ignored and violations continue3)no direct statements that hold PMs accountable when they carry out requested actions of a Board that are in non-compliance with the law or an HOAs governing documents 4) no mandates for PMs to provide home owners with a detailed explanation or legal justification of fees and assessments (such as the HOA Transfer Fee) they independently impose and retain and 5) no requirement to explain and justify in detail all PM fees in their contracts with the HOA.Repeated requests to DORA (Department of Regulatory Services) and legislators from Colorado’s largest HOA home owner’s group, Colorado HOA Forum, to include these simple specifics have been rejected making reform and enforcement for home owners very difficult.Legislators also refused to include in the Law assistance to smaller HOA PMs by reducing their licensing costs and requirements.Licensing also witnessed an unprecedented and disturbing legislative act.The Law contains language directly promoting a private entity’s (CAI) sales products and educational courses.It also allows the industry that is to be regulated (CAI) to develop and complete State educational, testing, and credentialing requirements none of which have been officially reviewed or approved by the State.Then there is the missing legislative mandate in licensing rules to address meaningful “full disclosure” of all fees and assessments on home owners by PMs.Specifically, the HOA Transfer Fee that cost HOA home owners millions each year will continue without any limits or justification.DORA decided a one-liner on home closing documents with no receipt and/or detail of charges is “full disclosure” of this fee.Legislation/licensing that is crafted by the interest group to be regulated should be disconcerting to home owners and businesses.The CAI has dominated the PM industry and HOA legislation in Colorado for decades.Their influence and leadership has led to the need for licensing and reform.July 1, 2015 was to be a good beginning on reforming the abuses in the PM industry but HOA home owners will sadly see little change.

Are they open to owner finance down payment or carrying a contract?

There are some areas that have been "over-fished" (Red Ocean).We are interested in all exit strategies (Flip, Hold, RTO, and Owner Carry). 

Remember this, if you do a property owner or an investor wrong, you'll carry that with you and you'll hurt your business.So don't be an *******, basically.

We are even considering taking a real estate class or something similar to speed up our learning curve.Im actually flirting with the idea of a new career with more potential for our future, something that we could carry on/for our retirement.I've been always fascinated about real estate, but my only experience so far, was buying the house that we are actually living (for the last 8 years with 1bed 1 bath) that is still upside down (and yes, we are still traumatized, lol lol lol).Many plans for our future (including kids) but not really knowing how to start with our 9-5's, but learning before anything else sounds like a good start (at least for me).Great site guys and thank you once again for all this compiled information for my thirst mind : )

After the house is fixed up its worth 20kThere is  a seller carry back mortgage of 6k that was from 2005 and was to be paid off in 2009.  

Carrie Giordano Sorry for the interruption in this thread.

If I have financial (number of loan limits) limit of 10 loans I can carry at a time, then that same $4,500/month goal tells me I need to average at least $450/month per property.It's pretty straight forward.  

The most important thing to remember is that everything you do needs to be justified by the economics.Do not get carried away and try to make this into the Taj.For every dollar you spend, you need to consider the marginal return.

Maybe you can do some owner carry.