However - I have 2 condo units in a building which I discovered while riding my bicycle around with the dog.  

Another problem discovered with hard money lending: so far, I've been told I have to flip the house or rent it out after repairs are made.

I always start with the rental rate first, because it's a lower number (and based on sales sequencing, I've discovered that starting all discussions with the lowest number possible eliminates sticker shock as an objection).

If you close personally and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

If you feel Chase, Bank of America and Discover Card's balance sheets are more important to you than the health and well being of your children- more power to you.

If you think you will go FHA, 203k, etc. and then Quit Claim the property, to a LLC, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

It is serious money and rather discovered this great site and since then hangin on to this one to educate through podcast/blogs ,network w/ other investors and engage myself by asking question in the forums.

Discovered the bigger pockets podcasts and ever since I've been curious about learning how to dip my feet into real estate investing. 

You get a cookbook with a recipe that looks good, discover a great fried chicken meal, and make your grocery list of ingredients to make a meal for your family.

Not sure if it's just city of Annapolis or all of Anne Arundel County, but when we rented our townhouse out, we discovered required rental permits, rental inspections (required networked hard-wired smoke alarms, etc.), must have specific wording in lease for several issues, ex., tenant was offered one-year lease term or valid reason why not, disclosing security deposit info, etc.