Quick, efficient, reasonably priced- and when he says it'll be ready on a particular date, it's ready. 

Confirm if there is a written lease and ensure you comply with the terms. 

That is not easy to find in my experience and is someone to run the plant, record the numbers, and ensure they are properly recorded with the state. 

In your case, I would talk to your loan officer to help ensure that all the loans need to balance out to the $300K. 

It's all about educating yourself first and ensuring you have a solid team on the same page before pulling the trigger on a deal.

You gotta find the right zoning and then contact the city to ensure there are no other investment STRs within 500' of yours.

Everyone has to learn the lesson for themselves.In my state, if I want to legally regain full possession of the property, I must name ALL RESIDENTS on the eviction and include "et all" to ensure that if they moved someone in I don't know about that person is included. 

That’s why flipping can be problematic when it comes to being tax efficient

In your experience would doing a cost seg on a SFR be cost efficient?

I have received my first potential lead through direct mail.I have been in touch with an absentee owner who's property is in foreclosure.She purchased the property in 1999 for $54k, so there should be some equity in it.I know there's a lien against it for unsightly premises, but she (the owner) couldn't tell me who the primary lender was.I have paid for a title search today, and I expect she would be willing to sell for pay off; however, because I've never purchased a home in this fashion, how do I ensure that the lender gets paid?