But, during the conversation,  I was informed that the property was in the seller's father and stepmother's name.

My first house hack is in my wifes name as she is a traveling nurse.

What's the name of your podcast?

This way you have immediately created separation and should something terrible occur and you be found liable / negligent, your primary residence and bank account are more so protected.If you purchase the property in your name, it’s a personal asset.

@Bridget Smith-Osbourne find out what unit he is in and google their “staff duty” call that number and tell them the tenant name and that they are not paying rent.

Most people will define a good market as one with a strong job market(i.e big name employers that employ white collar jobs, as these create the most secondary employment), a growing population 10% or greater, low crime, economic engines, etc.  

You'll learn the same stuff, if not more, applying that money to a down payment on a property, and then you'll still have the property at the end, with the mentor program you'd have nothing.Anyway, I can recommend a couple of real estate specializing attorneys in Rhode Island I have used for multiple transactions, and will PM you their names/info.

How about naming #6 "house stacking" even though that was the name for #7 and then renaming #7 "compound housing" as it multiplies the doors everytime. 

Also, as far as the loan is concerned.... you either have to have a sweet rehab loan, or some other way to buy the property.  3  Holding costs:  Not the biggest item on your list, but not nothing. 

.$150mo @ $7k, $55mo @ $2k, $27mo @ $1k, $35mo @ $3k, $40mo @ $4k,$25mo @ $1k, $47mo @ $1k, $67mo @ $2k, $25mo @ $1k, $25mo @ $1k, $45mo @ $1k, $80mo @ $4k, $25mo @ $1k, $80mo @ $2k, $102 @ $4k, $110mo @ $4k, $90mo @ $2k.Loans - $470mo @ $10k, $591mo @ $15k, $270mo @$3k, $650mo @$30K (not in my name), Kid’s School -$900 monthSchool Loans - $785 monthCell phones - $200 monthPersonal loan to Dad - $1,000 month, $28k left.Cars - $730 @ $31k, $330 @ $17kCar insurance - $150 monthCable/Internet/Gas/Electric/Water - $500 monthINCOME = $7,300 monthBoth at 600 credit scores.We spend $10,300 per month above,we have FT jobs and drive Lyft make bring in $7,300 month.