This would seem so much easier than getting the Sellers to sign over a Power of Attorney, the method I have seen most people use.The above example does not have the transaction funding fees, but feel it increases your liability.Would my assumption be correct?

This is what I would recommend if I was starting my REI journey from the beginning: Read Brandon Turner's book on Rental Property Investing https://www.amazon.com/Book-Rental-Property-Investing-Passive-ebook/dp/B018UTI2DOListening to the BP Real Estate podcast https://www.biggerpockets.com/podcastListening to the BP money podcast https://www.biggerpockets.com/moneyshowAttend your local REIA meetings to network (search for your area https://www.biggerpockets.com/forums/521-events-and-happenings)Start analyzing deals to get practiceEngage more on the BP forumsPost a profile pic :)All the best!

That method is pretty much exactly the way my wife's and my mentor teaches to do it:  Fix everything, price it right, and screen tenants carefully to avoid capex, vacancies, and trashed properties, resp.  

After a couple of years, we'll rent it out and really start the journey. 

I am excited about my journey.

What jobs / money methods help you start out?

They talked about the following method for those who don't want to be super active in real estate:Buy one house a year, ensure rent covers all expenses at a minimum Have each house on a 15 or 20 year noteOnce you hit year 16 or 21 (whatever you amortize the loan for), start doing cash out refinancesThis method only requires one house (more would work too) a year, and would greatly supplement or even provide a retirement.  

Any one used this method before?

@Jace Peters I'm a little late to the start of the thread but how is your journey going?

The reason I want things to be done properly and lawfully is because I do not want to be known as the unsafe and careless flipper who sell garbage properties.In this journey I bought a property from a Wholesaler who provided me with a pool estimate that were $4,500 less than what the work costed.