Disclose, disclose, disclose and you should be fine.

Do lie on that form, penalty is a Federal crime of $250,000 fine and fine years in prison (owner occupied,of course.)

And I would offer that you're doing fine w/rentals, so no need to be apologetic on the flips!

Three folks putting in cash is fine.

I'm hoping that Bigger Pockets will provide opportunities to meet and network with other investors along with being a fine resource for knowledge and learning.I have not done any deals yet, but my goal is to purchase my first property by April 2014.

Avoiding debt is fine, and looking for a long-term passive cash flow strategy is fine - but the two are pretty much mutually exclusive.

He has multiple rentals himself and has assured me that I will be fine with his guidance and support.This isn't the path I thought we would be taking (self management) but by having someone do what I consider the "hard part" - finding/screening a tenant - I think we will be okay!

You'd then tell your T/B that because you'd given them an option to Buy this fine property you expected them to take care of it the same way they would if they'd already owned it.

Like the underlying mortgage where you said you were working with your lender, so I assume it's a private lender, hope it's not your grandmother.I see you're in Texas, contract for deeds are not done in Texas, you can do limited lease options, subject to transaction are fine and seller financing, but not installment sales contracts.So, you're deal is violation on that issue.Next, it's a new contract, you didn't comply with the SAFE Act, federal law, in this financing agreement with an owner occupied buyer.

Don't feel obligated to anything being sold, and there is a lot of free advice out there before you necessarily have to buy anything, but either way you go, you are doing fine.