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Learn the system, use the system and be creative when dealing with tenant problems. 

I'll also bring up that getting licensed does not prepare you to go out in the marketplace and make money. 

Now I'm making my final preparations to fully commit and make the big plunge.This is the next step in that process.

i want to aquire as many this way before i have to get really creative it will also help me put together some seller finance deals 

Looks like I will be partnering with a buddy for the 20% down that the bank is wanting...after that, it'll prob be time for some more creative ways to obtain properties.Jerome,I have had a great experience with my property manager so far.

Being that you are not in a community property state you will be required to maintain a profit and loss, balance sheet and prepare a 1065 US Partnership tax return.

Hi All]I purchased a building lot in a non critical wet land area. Property is not considered wet per City. I am going to have a perk test run on the lot. If it is wet what can I do to mitigate this issue? Infill etc....

Hi,I've noticed that most FSBOs are not receptive in doing a lease option or terms type deal.Some say don't use words like "lease option, lease purchase or rent to own" with sellers because a lot of sellers really don't understand and it may confuse them.I've been unable to find sellers that will entertain doing a lease option or terms type deals.I've heard that some use expired listings as a lead source but I've been unable to get a Realtor to provide any expired listings so I tried to contact the FSBOs directly on-line.Not finding any sellers that will do creative deals like lease options or terms. 

., but 30 years is a long time...however you have to be prepared for the possibility that the rents could go down and not cover the mortgage (not too likely in my opinion) or the vacancy factor could go up and you again may not be able to cover the mortgage.Lastly if we have another crash in values and it goes down under what you owe then your $35k equity could disappear.These scenarios could cause you to  end up giving it back to the bank and ruin you credit thru no fault of your own.