.- Know how to handle objections - and know how to tell a smokescreen objection from a real one.- Know how to price your property correctly.- Know how to qualify a buyer.- Know how to vet a lender (know how to tell a good pre-approval from a bad one)- Know how to evaluate an offer and the contingencies therein.- Know how to handle the home inspector's list of repairs.- How to negotiate the purchase price, repair list, closing conditions and date and terms of the offer - possibly against a full-time pro like me.  :-)I could go on for a while, but I think you get the idea...

The partnership/investment arrangement we have discussed seems to fit both of our financial and personal objectives.  

@Renata Miyerov Start by clearly defining your goals and objectives.

But if money were no object, it is a much nicer layout.

Don't go it alone...build the relationships you need to achieve your objectives. 

Below are some things you may wish to consider, as to which Corporate Enity is best, for your Business Model as well as your REI Goals and objectives.

One with experience in putting deals like this together.The way we have done it in the past is have the lawyer draft up the docs, have all partners review and if anyone has any objections for their situation, they can bring up that scenario and edit the draft to compensate for that scenario. 

Is there an expediter that you would recommend to help with submitting request for letter of no objection? 

Objective: I am interested in single family homes as investment properties, and have a 10 year horizon.Here's the background: I moved from Connecticut to New York recently, and I have one rental in Connecticut, which is about 2.5 hours away from my previous home. 

Offer #2 is objectively better, checking the market the lenders here tend to be on the difficult to work with and slow side.