I think I can rent the property for around $1000 month which would give me about $10 a month in positive cash flow (this one has much higher taxes).So here’s my question – I think I followed the steps outlined in “Hold” and now have 2 properties with zero down which should provide a small positive cash flow.

A funky 'napkin' outline of terms will cost more.Now I do them myself after paying for it a few times.

The process is the same as I previously outlined (except your profile photo will be under the menu in the upper left corner instead of the upper right).

To answer your question though, I would recommend setting up an LLC as you as the owner and have a joint venture agreement with each individual outlining the terms and conditions.

Of course I would let the homeowner know exactly what I was doing - it would all be outlined in the Master Lease.......I don't operate on dishonesty.  

The "note" is the paperwork that outlines the terms of repayment...interest rate, amount borrowed, term of loan, monthly payment, and when it is due to be paid in full.  

On the deal, I partnered with someone but locating the area to invest in, I used my own due diligence process which I outlined in this BiggerPockets blog post:Out of State Investing?

Those that have/foregon buyers/developers buy in the city and those that can afford it buy in the out lining area. 

Is there any post or blog I can read to give me a step by step or an outline of how to create that road map ?

I am looking to be a more effective communicator with sellers.I am wondering if some of the more experienced/successful wholesalers can give a brief outline of their initial conversations with sellers.Also,what are the benefits you lay out to the sellers as to why they should work with you, and how do you handle certain objections.Thanks