I text the tenants a reminder to pay, they text back when they've made the deposit and I verify it online.

I will verify before any steps are taken, but I have to give my 20 yr old a lot of credit either way for a great idea to enter the RE world.

William,Nothing is preventing him from using a hard money lender as long as the seller can verify the hard money lender do have funds.

Owner said there was little damage so I thought it was OK to take a look and verify.

When I see a house that fits the criteria, I go check out the house and verify that it's vacant, and I record the address.

You are correct that turnkey investor need to verify all the hidden expense that the seller are not tell them.

I am trying to figure out the best way to protect myself so I don't get caught making the paments and how I can get a renter or owner finance in the property asap.I have authorization to relase information signed and getting ready to talk to mortgage company to verify outstanding loan balance and terms of the loan.

Everything can be verified. b. the properties will really rent as fast/easily as we hope at the right price or higherMost of the time you will have tenants in place with 1 or 2 year leases. c. the tenants don't destroy the propertyThat is a function of good property management, qualifying and screening. d. the property manager is honest reliable and capableAgain, due diligence is important.

Then, once you have an accepted offer, during your inspection period, you need to verify as much as possible.

Now you should do a more detailed set of actual numbers to verify since the 50% rule is a very accurate assumption but not perfect.What I mean is that for properties where I invest in FL the prop tax and insurance tend to run a little higher as an overall % of the expenses than other areas like say here in CA.