I bring the signed LOI to the attorney, the attorney drafts the agreements, the seller signs, then I market for the Tenant Buyer.I do not market for the tenant buyer until I have a legal right to the property, that is 1) a signed lease and 2) a signed option in my LLCs name.I wish you every success!

Face it, life happens, you might need to sell, and then no equity means you have to potentially bring money to the table as the seller.

We cant put em in the ground till Memorial Day weekend.

If you need cash NOW then working for an experienced agent as an assistant or buyers agent on their time should bring you in some business but you still have to be personable and good at sales to close deals even with good leads.You can also "sit a subdivision" as an agent and make great money now that building is coming back in many areas.

It's the comparison of the price of a property to the rents the property brings in.

He had an extremely good paying job, and I know his mother, and often when I would call him about an unpaid water bill she would bring the money by my house in cash.

Great list @Ky Sharp If you are confident in your analysis and buying all cash the appraisal/bpo isn't necessary but an appraisal may help you negotiate if it comes in low.We like to have two or three mgt companies walk the property during due diligence and propose their mgt plan that includes a capex and/or repositioning budget.If the subject property and all properties nearby are the only things ever built on the land there you may not need a phase 1 environmental but if it's a large property and/or you're bringing in outside capital (lenders or equity partners/investors) having one demonstrates your thoroughness and professionalism even if one is not required.If there isn't a recent survey one it may be required but if one is not required getting a new one falls under the same considerations as above.We have gone to always having an engineer do the inspection even though it can be 2x what a non-engineer inspector may charge.

@Bill S. brings up some good points.

But I don't see anything about bringing an older house up to code.

Bring a list of questions you'd like to have answered.Bring a few deals you are thinking of working on.