Ivan, turn key is simply one of several methods of acquiring rental properties.

I am thinking the easiest way would be promissory note, but I was curious if there was any way that I could secure their respective liens on the property.

Originally posted by @Michael Lewis:Your math is wrong the 60k profit a year on a 500k investment is 12% But you don't see that equity until you sell the place, so you would also have to include the opportunity cost of tying up $500k in cash.The only way you could see that down payment back in cash is to take part of it out as a loan secured by the property.

Something that I implemented that has also been helpful is the "profit first" method, or the  "rich dad, poor dad" method of paying yourself first.

Hi @Andrew Pappas,I would recommend securing the property using other financial means, removing him entirely.

Secure a title commitment asap.

You say he cleaned it well enough to receive a portion of his security deposit back?

I’ve secured a mortgage through Boiling Springs Savings Bank on an investment property several years ago.

I will look for real estate meet ups on meetups, however most of those things i think are scams by people just teaching you "their" method and you have to buy in.

I like that.Yes, in the interests of full disclosure, Thomas is right... there are more options.I have an acquaintance in DC who does quite well using a method Thomas would certainly approve of.