I am anticipating the closure of the estate to take place around the same time I will have enough education to confidently make my first purchase.

We do not anticipate that it will take this long to complete this transaction and will make every effort to close expediently at the earliest mutually beneficial date.4.Training TimeWhile I have used a self-serve car wash many times this will be the first time I will operate one.

For example: Say you make $50 an hourEstimated cost of property manager of $35 an hour and anticipate 2 hours a month, totaling $70 an hourIf your cost is $100 (2 hours) and their cost is $70 (2 hours) then it sounds logical to use oneHere is the way I think about it....

I anticipate 10% for transaction... it's simple, and it might be close... this covers agent commission, seller requests, and minor things a home inspector might find, as well as appraisals, surveys, whatever.  

Hope your business has continued to grow as anticipated.

I am trying to give you general information to help you learn so that you can better interact with legal or other professionals.Many Gurus have said that "Pooling"  money requires following SEC regulations and that one lender per deal does not.

Craig Diehl helped me about 5 years ago with a deal that was actually put together by a person I partnered with and he had most of the interaction.

Please feel free to provide feedback below, ask questions and contribute to a positive interaction.

Depending on how much you anticipate growing your portfolio, those fees could be significant.

So many lessons....Perform diligence on your partners the same way you would a dealEspecially look for any previous lawsuits.Run your own numbersMost people in the course of your business have interests in direct conflict with your own, even your realtor.Get multiple bidsYou'll be surprised as to the huge range of bids you might get.Get W9s before work beginsAfter you've paid the contractor, good luck getting them to respond to your request for a W9, especially if the relationship didn't end well.Have solid contracts that protect your interestsEspecially when it comes to recovering legal fees when you are the prevailing party.Have a solid schedule, and keep the pressure onThe first one is likely to take way longer than anticipated.