I have seen it suggested that I should run an ad saying something along the lines of "Handyman special, must sell" and telling anyone that calls on it that I just sold the place, but I can give them a call if I run across something else that suits their needs.

I know I know… It’s pretty easy to be optimistic when you are sitting in an appreciating area… But the point is this… You need to get in correctly, be prepared to make changes as you go along, have a plan “A”, and plan “B” and a plan “C”… Etc… Be flexible and be ready to change and adapt to the market changes…

I suggest you find a good mortgage broker in your area that specializes in investment property.

You will have to use each one interdependent of each other in all situations because each will have a special knowledge of a different piece of the puzzle and help put the puzzle together in the proper way.

I'm gonna work up answers to questions I have gotten from sellers to prepare myself b/c I know they're gonna ask them lol..

If you are looking to formalize the group and build it into something substantial, just be prepared for a huge time commitment.Good luck.

Remember that HOA is always a hidden expense that can skyrocket substantially if you don't check their reserves, how long it has been since the roof was replaced, possible special assessments for sewer lines / water utilities (especially for rural properties with private utility companies)I am a novice and almost made the mistake of investing in a condo in the Phoenix market with $300 cash flow after PITI, mgmt fee, & HOA.

Pre-paid and un-paid expenses (real property taxes, hazard insurance, special assessments) are typically pro-rated to the day of closing.

as life in general may have been preparing me to do something like this.Have been a work at home mom for 12 years after being in the Dental field for 12 years.

I would strongly suggest that you contact an attorney in your local area that specializes in evictions.