@Wayne Brooks - I recently looked at a house where the side lot was not part of the mortgage by intent of the owner.

The instructor is well connected and has been around for a long time, I trust the information when she says she's gotten it directly from TREC Legal Counsel.Also, you have to remember that a judge will sometimes look at the intent of the law versus how it's specifically written.

In many cases the old saying as to "the letter of the law" or "the agreement" isn't the case in reality, it's the intent and circumstances weighed in light of what is black and white in business dealings.As a servicer of installment contracts I have had many initial threats to accelerate a mortgage to maturity.

I am just getting started, and plan to require my full time job for ~2 years before my business has grown to where it is no longer a supplement to my income, but my sole source of income.Draw up a business plan, your intentions, and your goals.

Main level - enclosed porch, living room, dining room, bathroom, and kitchen2nd level - 3 bedrooms, bathroom,Attic - sitting area, un-permitted kitchen, 2 bedrooms, office, and un-permitted bathroom. and lots of storage (I will take out the kitchen and bathroom and cap everything so it is compliant)basement - new gas boiler, and water heater, unfinished but +9' ceiling height.

Part of me thinks the main reason I did this was to see if I could pull off the double dip on these houses. :-)Either way, just curious to see what people think since this is so completely out of the norm from my renting philosophy......

Mainly wholesaling right now and looking for my first few rentals to buy and hold.You mentioned that you ventured into subject 2 deals.

I understand that the cash flow is not spectacular, but after looking for 4+ months, this doesn't look so bad for Metro San Diego area (I also have limited cash reserves, so I can't put down a 50%+ down payment to make some of the better properties cash flow).My main question is whether it's worth buying a really nice property in a bad neighborhood as a long-term investment.

I would like to get your opinion on the TYPE of property to purchase with the intention of renting.

Mainly local banks and credit unions for the small balance stuff.Hope it helps.