At least where my property is located, a $40 application fee is not unusual and if you have a desirable property, people will pay it.  

That is called arbitrage can be highly effective with today's low mortgage rates.Next, your choice of investment vehicle should be both something that matches your abilities, desires, and strengths as well as diversified when starting out.

Unfortunately, today, most players in this space are also somewhat less than pros and have otherwise agenda, which makes it very difficult for guys like us...Also, in the case of small multifamily, it is possible to chose property which complies to the desirability guidelines similar to SFR, whereby limiting turn-over, vacancy.

CRE: Have a client going into an exchange with specific areas and desired unit #s in Palo Alto area.

Realistically, you only need to collect 50%-70% of rent to get an awesome return on your money so it's just as safe of a risk as a place that you need to collect 95% of rent to make a desired return. 

Here is what the document says:NON-CIRCUMVENTION NON-DISCLOSURE AGREEMENTWhereas, each signatory Party possesses certain information, not known by any other Party; Whereas, the parties are initially desirous or conducting various business transactions; Whereas, the parties wish to discuss and exchange certain items and information related to a business opportunity, investment, or selling and buying of real estate properties, which the parties hereto consider highly confidential and proprietary.

After decades of desiring to flip houses I finally decided to move forward and get involved.

Hi Travis,I'm glad to see you post on this topic, as I've also had the same thought about the west side of Cincinnati and wondered about the more desirable, solidly working-class neighborhoods.

Where outside of Cali do you desire to invest?

Use arm's length lease-option documents along with the counsel of qualified professionals.To charge above market rent is asking for trouble, with both the IRS and when the tenant applies for the mortgage with the mortgage company.What the CFPB thinks is another matter.What I recommend is a. charge market rentb. 12 month leasec. give a ROFR or right of first refusal (Purchaser desires to obtain a right of first refusal or first option to purchase certain real estate owned by seller and seller agrees to grant purchaser the exclusive and irrevocable right of first refusal and first option to purchase.)d. get tenant to bank to save for a down payment in a savings account (serves as verification of down payment saved)e. get tenant to enroll in credit improvement (I recommend www.upgradmycredit.com )f. use a collection company (I recommend www.notecollection.com ) to assist the tenant in VOR Verification of rents.