Basically a quick walk around to make sure all looks good and is in repair and I'm outta there.But I don't even have ANY signed paperwork with this woman.Wow, any input?

We had to basically redo the entire house, so it will be as brand new as a 60 year old house can be.

Here is what I plan to do: I have some basic forms/templates.

The property I am looking at is two properties on one lot, basically a house and a carriage house next to it.My strategy is going to be to live in one unit for a while, then cash out the equity and rent both units out, and buy another one.I'll have to get some specifics on the program to see how long I have to live in the house.Thanks,Justin

Or can you basically write into the lease agreements that the owners will not be there to babysit the property and that all repairs and maintenance must be done by the tenant immediately/as required?

Of course, my response was that she wasn't allowed to have a live-in boyfriend and that her problem was not my problem.About a week or so later, I was at her apartment to fix the heating.

It's available at libraries and bookstores.Her website gives a lot of basic but solid information and she's doesn't link to every other rei guru out there.Hope you find this tip helpful.

Also, Im not an accountant… but if they got a $50,000 dollar 1099, it sounds like to me they would owe close to $20k in taxes to the IRS… So… by saving money is how they get money.There are exceptions and many variables, but these are the basics...

Basically, what did it take for you to get started?

You should worry about these things too, and want to make sure it's worth your time...I think we were saying the same thing basically… Seth said he already felt there was 70% equity, but I questioned why he felt that way...What I was saying was basically what you said...