Also, try to screen people on the phone, try your hardest to get tenants on the phone.

This is what I envision:Step 1: Find Property worth buyingStep 2: get financing for said project and do rehab to create equity ( 3 year term)Step 3: Find tenants that want to do a "rent to own" situation on a 2 year lease termStep 4: screen tenants and collect "money down/option payment" (somewhere in the realm of $5,000 and negotiate purchase price and get contract signed.Step 5: Hold the note for the 2 years and collect rent payments until tenant is ready to exercise, if they don't then sell the property for the appreciated value straight up and collect the equity.does this sound like a valid strategy, and if so can anyone provide me any insights into any potential pitfalls?  

They "need" that new tv, they "need" that new phone, they must have a new iPad/tablet, etc.

Once you get going and become more busy you can weed out those that are high time low return.Some good ways to screen potential clients.Ask for proof of funds or preapproval letter.Ask what their purchase timeline is.P.S.ADVERTISE,ADVERTISE,ADVERTISE,ADVERTISE,ADVERTISE

Antonio... how many phone call do you make in order to get one deal done?

@Michael Germinario I tried to mention from my phone but it didnt workThanks for your comments that helps

In the world of craigslist and outsourcable background/credit checks, they're not that hard to find or screen.  

If you wish I can introduce you to 60+ investors that I have spoken to recently and they can that I always stress over the phone to include their own calculations for maintenance and vacancy.5th - We actually paid quite a bit more than $9,300.

I never heard back from the rep I gave my highest offer to on the phone, the contract just showed up in my email inbox a few days later.

Or, at least make some phone calls to realtors during your lunch break?