All you need are deals (sellers) and buyers, but you do need to have a CPA and attorney already on your team before you start, otherwise, how do you know if you are giving the proper disclosures, using the proper language in contarcts, etc as well as finding the best way to legally avoid paying taxes?

I finally heard from him today (Monday) that he was waiting for seller disclosure before we could make an offer but I would have liked to have been told that before Monday when I was expecting to hear from him Thursday.

If you are not in tune with the local market trends, documentation/disclosures, etc I would highly recommend using a buyer's agent.

Hence a separate purchase agreement was struck.The key here is disclosure - we've alway been open about these things with the agents and attorneys involved - and, perhaps the lenders have been made aware - though it was not directly by us.In the case of the fence, when we get the cheque we'll leave it in-trust with the attorney until spring with the fence is replaced.

(in full disclosure, I believe he offers some himself if I'm not mistaken.. check..)Unfortunately, I'm not an accredited investor yet!

If you want to jump to larger properties, I would partner with someone that has done it before.Full disclosure: We partner with passive investors on MF acquisitions.

What my mortgage broker just told me is that I either need to be able to show 2 years of Rental income or I need to be below the 70% LTV number in order to offset mortage payments with rental income.Hope this helps but in the interest of full disclosure....I haven't tried this yet so I dont know for sure if this mortgage broker knows what he is talking about.

I'm sure Steve was speaking as to the tax disclosure, HOWEVER, absolutely not so that it's all on a seller, not by any long shot folks, especially from the bunch that calls themselves investors doing deals as a business approaching seller having less knowledge and not having a clue when they say this guy told me.

I am finding commercial very different from residential in that a disclosure is not required, so using repairs as leverage to lower the price like I usually do in my residential transactions probably won't work for me.

@Jenna StonecipherAbsolutely contact an experienced and knowledgable real estate attorney, who is familiar with your local laws and the tax sale procedure.Tax sales are treacherous and are strictly buyer beware, there is no seller disclosures, and no inspections if bought through the tax sale.