When you deal with government at any level, recognize they had a reason they did something, might not be a good reason, but a reason.

A land contract or contract for deed is an installment financing contract, it carries (or carried) much more water than a lease option as it establishes an ownership interest more so than an equitable interest recognized in many areas.

This way when an opportunity presents itself you will recognize it.

I have some expertise in Performance Management -- driving, recognizing, rewarding, and measuring people's performance.

Before long you will start to recognize what a house should sell for in certain areas.

You can simply have subsidiary accounts and perform real estate buisiness, it is the aspects of your cost accounting methods and keeping income properly recognized that will determine how simply your business can report.

It's kind of interesting that on an "update" it seems that the URL notation doesn't seem to be recognized.

It becomes a lot easier to discuss business if you recognize you as a person and not just a landlord.

Read carefully, research, and recognize that it may not be for you.And often you can't get inside, even if no one is living there, because the bank hasn't handed the property over to a property manager (assuming it is occupied).  

If you sell one of those widgets the following week, you recognize $100 of cost because each widget has $100 of cost allocated to it.