Ultimately, these are investments, and your risk/reward should be the driving factor.Buying a 100+ unit will get you the efficiencies of being able to afford a couple full time people, right off the bat.  

While there might be startup costs for licensing and marketing, the potential to earn commissions from property sales can be rewarding.

A good contractor knows and respects this and knows that piss poor planning makes for poor performance just as well as the opposite makes for a long-standing and rewarding relationship.

All risk, little reward.

I felt the risk-reward was in my favor here, especially after stating in the contract that I can cancel the agreement for any reason during the first 14 days (which is also a law.)I've read the information on http://www.lonestarlandlaw.com/Lease-Options.htmlBut elsewhere, I read that some of these things aren't required.

If you have to borrow the 10k and it would affect your family if you had to pay back the loan on your own then you might want investigate it more or partner with someone giving them the risk and a large portion of the reward.

ITs a risk reward scenario and you must be able to either do your own title search or like I said have a good enough relationship that a title co . will give you a date down over the phone which is 95% accurate or better.. then your risking 30 to 40k on a title issue if your in the bizz and lose well that's just the cost of doing business..

Cold calling is very rewarding and I think has the highest ROI, but it takes work.

I'm trying to walk a fine line here of not discouraging you, but giving you an idea that it is a bit of an advanced area and to absolutely recommend you consult an attorney.There is the potential for some reward, but there are also risks and very often the risks aren't appreciated by newer investors.

One of the things I like about syndications is the flexibility it offers to sponsors and investors to create a economic structure that aligns interests, allocates risk and rewards performance.