Most everyone on BP knows and understands I use simple and direct language, mostly so I don't have to wear my fingers out typing flowery beat around the bush suggestions that I might use in person, it also comes from my Army background, I have a spoof about guru boot camps.If you get to some of my motivational rants, you might wait until you have thicker skin as it takes thick skin to be in real estate, we don't have the more pleasant, more humane and ethical aspects of corporate life at the beginning of a real estate adventure.

I should probably be modest as a newcomer, as wearing alligator skin shoes probably suggests success when I have yet to begin, not to mention the actual expenditure. 

The evidence of questionable activity for me was when they called and said the place was infested with bugs, they went to the ER with "bugs coming out of their skin".  

That being said, I am an attorney and I have seen many judges find ways around binding a party to a contract where the other party had 'no skin in the game.' 

Assuming all is well and the tenant is a qualified buyer, I then advised her that she needs to secure the non-refundable option fee up front of at least 2.5% with the remaining 2.5% to be paid on an instalment contract and held in escrow over the lease option term so that the tenant buyer can prove to the bank that they have "5% skin in the game" when the time comes to be approved for a mortgage.

Hi @Michael Erdman - You definitely have the right frame of mind in seeking a mentor - a seasoned local investor can be invaluable in helping you learn the tricks of the trade here.It seems that a lot of folks have some difficulty in finding mentors - it makes sense because it's such an important relationship that can shape your career.In case you are interested - I wrote about my experience finding mentors in this "Ultimate Guide to Finding Incredible Mentors" - I hope that it helps you with your search!

Your statement about the boom was based on $80-100 a barrel for oil and not in the $40s as things have slowed If and when oil prices rise again, I would consider putting in utilities and renting lots for trailers as people made a killing doing this at the peakThe difficulty in building quads is the lack of demand during the down time and the REAL difficulty in getting a builder and subs during the boom times as they all go to work in the oilfields.  

Everything he said is consistent with my understanding. 5 - Difficulty Getting FHA Offer Accepted @Patrick Quinn, you are correct that it can be very difficult to get an FHA offer accepted, especially in a hot time of the market in West Oakland.

@nat chan  From reading your posts, it does seem that you have an inordinate amount of difficulties with your projects and I think that's what some people are responding to (with varying degrees of kindness).  

If your tenants are having difficulty with abiding by the terms of the rental agreement, they may be in violation of others as well.