The point about potentially leaving the manager in the future is a good one - separating him from the ability to conduct business on my behalf through the bank account is important, if I need to down the road.Originally posted by @Sharon Tzib: In my experience, typically property managers collect the rent, deposit it in a designated bank account they have for client monies, pay all expenses you have authorized them to, and then issue you the balance by a certain date every month (on or about the 10th is customary).That sounds similar to what I was describing - he collects rent into his own account, pays expenses as authorized (or as signed for by myself), and then sends my business a check.Originally posted by @Sharon Tzib: Personally, I would never open a special bank account for my PM, nor would I give them signing power on said account.

Here is a link to video describing how to protect your investment properties http://tc-investments.com/asset-protection-for-real-estate-investors/ 

I agree with Brian, you should go with a Sub-To deal and describe the future payment in the note to the seller, have your attorney do this.As to options, I mentioned that most people or lenders will avoid transacting any business on a property encumbered with an option, but you can buy it Sub-To.

I would post on craigslist at least 3 times daily changing my ad a little, rearranging photos and how I described the property.

A recent interview described that his postcard just happened to be on the kitchen table the day the seller was ready to sell.

Hello @Ross Ellington Without understanding your unique situation, it will be somewhat pointless to describe the tax breaks available.

This contradicts what I've heard elsewhere.Also, I've heard you can't wholesale bank owned property, but on a recent BiggerPockets podcast a scenario similar to this is described - are there catches to it?

You're describing as "great terms" what are actually terrible terms.

As I've continued to research and grow my network I see the discernment you're describing coming into play.

They always describe the perfect thing.