You should also have clauses that protect the property, such as dogs and cats being on flea control medication, and the responsibility to clean up "deposits" from the lawn, and the responsibility to scoop litter boxes daily and clean completely once a week, etc.Inspect often, even if your tenants seem to be "nice people."  

That is actually what I had with L of L last year but at the end of the term, they cancelled due to dogs living in house and age of furnace and roof. 

@Andrew Halbert  mo better.. you own it.. you get pref return and 50% of upside.. now your talking like  a big dog !!!!

Not to dog on all people who do this, but I've seen many who do it poorly.  

@Eddie Cox - I have Pergo in my home...and what I can say is...my dog has done a great job of beating it up.

You now have the ability to do it again versus the dog of a property keeping you on the sidelines for years to get out of it.Reality is you pay for what you get.

They may be willing to pay you a few thousand dollars just to bird-dog the deal for them and they'll take assignment and make it their deal.  

They're just looking for bird dogs, or to sell you a magical RE guru course/mentor program.

My best deals were found while literally 'walking the dog' and I put these together with just myself and a title company.

@Brian BellewFeel free to send me a message or ask any questions as that is what I do bird dog for my investor clients.