Private Lending Attorney Here-First it depends if the person lending the money will be doing this on an ongoing basis - if so he may want to have a separate entity created for that business.As far as documenting the loan - I would recommend speaking with an attorney who regularly handles these transactions. 

This evening I sent over someone to my property to check the water heater, but I was faced with an even bigger problem.

It’s still about 90% accurate for us.Thanks Jeff I'll check out your link. 

I cannot say for sure, you can check them out www.streamlinevrs.com.It is more based for PM's to service multi owner situations, it sounds like you may be asking/looking for a solution that is employed by the owners themselves to track performance and use?

Feel free to come check it out and network with other investors like yourself just getting started.

1. plan for a 10% dip in values & run your numbers that way. 2. check out jamil damji's book on wholesaling, and use the parts about all the different ways to find good, cheap deals.3.

You could easily manage a significant volume through a free Google Voice number and an email address.Considering that most residents lean towards email and text rather than phone calls, you can periodically check those messages or any voicemails left for you.As your business expands, you might want to consider implementing an efficient property management software.

You pay him however you want check or you can use unit rents.Have you thought about just getting an approval for a mortgage and not use the seller?

Its the regular consumer that buys/sells a handful, at most, homes in their lifetime. 

Check with your utility company see if they offer incentives.