there has to be a paper trail. and if done wrong most likely that trail will lead right back to me.

If you make 10k a flip times 3 in a year for 30k that will be a lot of work for a nominal return.The people that flip make larger spreads otherwise it makes sense for them to just flip the paper quicker for those kinds of margins."

Increased rent for the option tenant as you can apply a paper credit of 10% toward purchase down payment.  

It doesn't cost much other than time, gas, and a little postage, ink, and paper.  

Decades later I am finally getting around to really working through the grieving process.I am writing a book about my life and my business and so far I have found it feels really good getting things out on paper.

I haven't used an attorney for real estate yet, but I realized when I filed the papers for a C corporation a few years back that it's just too easy to miss some small but significant detail.

I was just excited to get started in investing and it seemed like a good deal on paper but I didn't do my due diligence which was my mistake and I take full responsibility for that.  

I then told him if his back hurt and he cant do the work anymore maybe this isnt the job for him.. he told me he would be fine and worry about myself.. then I asked again how long he thought the apartment would take and told him I had someone wanting to sign a lease so it would need to be done in the next 2 weeks.. at that point he came over to me where I was sitting, grabbed the paper I had written all the materials on and crumbled it up and threw it at me and said " you dont give me deadlines and tell me when something needs to be done, I tell YOU when an apartment is ready and when you can lease it" and then he said " I'm tired of you micromanaging everything I do"  ( to say he was unhappy with me taking my new role as property manager serious would be an understatement)..

If you're going in the rental income direction, right at the get-go put on paper your: Tenant qualification criteria, Move In/Move Out procedures, your Eviction procedures, your maintenance procedures, and build them all after researching all your state's landlord/tenant laws.

Who cleans, replenishes linens and paper goods, inspects after each rental and more.