His idea was to buy property in FL at way below market prices, pay cash or get some private financing and rent the properties for cash flow long term. 

They may show as flat right now but will not crash unless this oil price drags on for years.Last thing - the $300,000-$400,000 priced housing in the city are showing the least amount of days on the market (location dependent) so you may need to act soon.P.S. to tag people you just type @ then start typing their name until you see it pop up at the bottom of your post box. click it and your rolling.Greg

Two years ago I purchased a duplex (2-family flat) for rental purposes that is connected via a wall to a 4-unit that has been vacant that past 2 years, and apparently many more years prior to me acquiring my property.

One hand-delivered a baked treat at Christmas time to me.

This guy was calling lots of bandit signs around the city trying to sell a 2-Flat he wanted to get rid of.

Or hire an attorney for a small flat fee to write on for you, then you can re-use it. $250 should do it.

So, I struck a deal that the farmer's market would pay a flat $150 per snow removal occurrence.The deal has been signed and they are set to open in June!

A flat 1/4 acre lot on at the end of a quiet road will be a lot more desirable than a hilly one on a busy street.I would prioritize:recent soldsunder contracton the market(discount significantly if on the market a long time)older sold properties  

Our initial thought is to compensate me roughly on the level of of a property manager, i.e. a flat rate of ~12% gross rents.Any and all thoughts/advice are welcome!

Most of these deals fall flat when investors buy without the ability to actually buy it conventionally.