He can either leave the deed in his name or hold it in escrow with an attorney during the restriction period.I am assuming you will be using a loan to purchase these properties, and the original investor is using a loan as well.

If it's been 3 days since you contacted the first applicants and they haven't gotten back to you in more than 72 hours, I would feel perfectly comfortable moving on.I'd leave the first applicants a nice message letting them know you assumed they weren't interested any longer and that you'll be finding other tenants, just so there is no confusion.

#1 sounds maybe on the up and up, but if someone leaves something important like SSN and DL# blank, it's a red flag.

A 10 year note at 10% would make the payments 528 a month leaving me with 822 a month to cover Insurance/Maintenance/Taxes.

You should be able to refi it for 560k and pay off your existing note plus leave yourself with 360k to play with.Not sure what the best options in Texas are so I can't really help you there.

So that leaves solo K or checkbook LLC IRA.I think I have a handle on the checkbook LLC IRA, and the sizable but one-time up front fees to get it set up (perhaps $1,200 I've seen), with minimal ongoing custodial fees since the custodian only holds one asset, namely the LLC.As for the solo K, I understand that it requires a current active business (Sch C or corp) to create the plan (ie. being a full time investor holding Sch.

In a few years, you'll have the choice between keeping the job (if you really love it) or leaving with a nice little nest egg to get you started (plus a bunch of RE experience that you can leverage if you decide to do that full time).Worst case, you finish school and decide to try RE full time.

Seems like you're just leaving money on the table by buying the original...I'm going to wait for the $10M version...EDIT: That was just an attempt at humor for anyone who thinks I was serious

I wanted to have a Maui "Cruiser" that I could leave on island to avoid the extra expense of rental car...but the owners charge $15/day for parking onsite.

So that leaves unlisted deals.