remember payments may only be 400 a month at best.. 6 months reserves is a whopping 2400 dollars.. so someone theoretically with less than 10k in cash could get into these properties.. this William I personally think is highly dangerous for lender and for buyer... its not losing the 10k that's nothing its getting your personal credit trashed when you can't make the payments because you lost all your cash.IMHO if you want to be in the rental game you need 20 to 30k liquid at anyone time that you don't have to borrower etc.. this will insulate you from taking a loss. as you build units of course its not exponential but you need a base.And since this is not TRUE cash equity only paper equity there is no hope of selling them for a profit or what you have in them.. 

Give them a copy of the manual to show what minimum temp settings are from the manufacturer, put it in writing and get them to sign the paper. 

Buy a cheap house in a tough area, the numbers on paper may look good, but you will have higher operating costs and more headaches (generally speaking) as opposed to buying a solid house in a good area.

I've just done the work myself: get a judgment, file to have wages garnished, place liens on any property they may own (I've had some people come up as being on joint title on a property).Some people will sent up a payment plan as soon as the sheriff shows up to serve them with papers because they're so embarrassed!

Yes, this lender might see all kinds of deals PROJECTED on paper, but what about business returns showing the actual results?

I hate selling and LOVE moving paper (Refinance). 

I’m doing leases via Rocket Lawyer and keeping track via paper and notes!

Or is this just a theoretical way to gift an asset, but on paper it remains in the parent (grandparent/ gifter's) name?   

This was eye opening for me on the paper work side of things, at the time it was quite a bit but a wonderful lesson to learn especially being my first deal.

THEY ACTUALLY TEACH THEIR NEW AGENTS THE POWER AND ADVANTAGES OF WORKING WITH INVESTORS OF EVERY KIND, WHETHER IT'S PASSING PAPERS (ASSIGNMENTS/DOUBLE CLOSES/OR TRADITIONAL BUY, FIX AND SELL/HOLD- OWNER FINANCING AS WELL)...