Some people don't like to delegate, need to be able to see their properties day-to-day, be involved in tenanting choices, etc.

I've been listening to the BP podcast for almost a year now, and I'm finally ready to take action and dive head-first into the RE game!

Agreed, I would much rather self manage initially, but not being local I don't have much choice. 

The parents would have to get a court order to be able to retrieve their son's possessions and that, when released, I should take a witness and photograph the inside of the unit to prove I didn't take anything.Day 4 - The unit was finally released to me. 

Busy is a choice.

Hello BP,Like many I have been on here lurking for a while and finally decided to address something here that I need your expertise on.

Fast forward 2 more months when the final inspections were being done, the water had to be turned on and we assumed the new toilet fixed the problem, but then I get another bill for another $400 on top of the other bill. 

OR tell him the property is already sold, and maybe just structure the whole thing as if he has no choice really, it's all just "After-the-fact" Stuff...?

Be straight with all interested, explain there are multiple applicants and taking best and final by x date.

Here is the info:Tenanted duplex with 2 2br/1ba units, both tenanted and renting for $600 each.Financing is via private loan at 4% interest only payments and final balloon payment at end of term (5 or 10 years, tbd)Asking price : 57,900 ***note: following numbers are assuming the seller's asking price, which I would NOT offer***Est'd ARV: 60,000Est'd rehab cost: 15,240Closing/Legal cost : 1,500Down Payment : 17,000Total cost of project : 70,400Total borrowed amount : 53,400Total Gross income : 15,880Total Expenses  : 9,054Net Operating Income : 5,478Annual Debt Service : 2,136Cash Flow : 3,342Even with the over-market asking price, this property is already cash flowing.