Hi, I’m negotiating on a 16 unit apartment complex here in Memphis TN. The owner did a promissory note to sell the property but the guy who agreed to the terms couldn’t afford his payments so the owner is ready to for...

DIY Choose your market Use an excellent property manager Choose the right property - depends if it is the right location Talk to local investors to get a feel for the market2.) long distancepartner "boots on the ground" Can bring many challenges with it Go on bigger pockets forums a lot to minimize riskTurnkey Buying an investment that is remodeled with tenant in place and property management company in placeBenefits: service ata distance, market insight, professional staff, marketing machine, managementexperience, simplicity.Downside: financial,analytical, ethicalCh. 7 Types of Rental PropertiesSingle-family homesPros: plentiful, strong exit strategy, involves fewer bills, easy to finance, easier to manage, more stable tenants, better appreciation, less expensive to buy, Cons: high cost per unit, slower to scale, limited loans, expensive rehabs, more competition Multifamily Real estatePros: more cash flow possibilities, one loan and multiple units, one insurance policy, math over emotion, business not a hobby, income valuations - based on ROI they give the owners, less competition from homeowners that jack up the priceCons: More expensive, more management intensive, more savvy competition, more complicated, fewer to choose from, government regulationsCondosShort for condominiums Each unit is individually owned by a person HOA feestownhomesLess apartment feel Usually share a wall with the other unit Still have HOAsREOs/Foreclosures - "real estate owned" Usually something distressed about the property - investors need to see past the superficial flaws Banks are numbers-driven, not emotionalFixer-Uppers - a property that needs significant or minor rehab donePros: less competition, forced appreciation, potentially more cash flow, unique financing optionsCons: hidden expenses, stressful, more out of pocket costsQuestions you should ask yourself: How bad is it?

Now I just have to execute my plan!

Availability to walk the entire journey with you.  1031 is as much strategy and matching the execution to the needs of the client. 

The PM company can also get the inside track on when an owner wants to sell and buy it themselves having already known the details of the property managing it.I have  a friend that his company manages about 10 million sq ft of retail and it doesn't hardly make any money the management but keeps staff working in up and down cycles and he gets the inside track when the owner wants to sell so he can look to add to his portfolio.The bigger property and revenue the overall the percentage fee tends to go down.

Availability to walk the entire journey with you. 1031 is as much strategy and matching the execution to the needs of the client.

Once letters of administration have been issued, the PR can execute a contract and deed.

The lending executives at the smallest local community banks are going to be able to be a lot more flexible and help you come up with a creative solution. 

Can anyone reccomend any resources where I can access examples of actual deals and get an idea of the process from an execution standpoint? 

Then you just execute the option portion of your agreement with the tenants and use the proceeds in your purchase.