He will be selling the properties to me for about 35k each and they will rent for anywhere from $600 to $800 a month on a 12-15 year note with the bank.With his knowledge and history in this market I feel that my mentor is steering me on the right direction and not setting me up for failure.

The objective is to ingrain sensible propensities and fabricate an in adoration bond together with your pet.

@James Masotti I'll start taking that approach because that actually more accurately aligns to my objectives and abilities.Yeah sure, simple concepts, but the mentality shift is what leads me to be able to phrase what I actually do vs what I've been inaccurately saying what I do (if that wordy sentence makes sense)

@Philip Amundson Admittedly I would say most properties do need some small repairs and/or updating to maximize rent so I'm not going to pretend you will be able to find a 100% turn key property, however if you can find one, then it will preserve your cash and set you up better for #2.  

You can get that discount only in stores, not online.I went through 2 Ryobi sets and fried them, I don't recommend them.

Is it likely and how to set up a contract?

We could set an appointment and meet somewhere to talk numbers and maybe go take a look at this property :)Sincerely,Grant B.

Next look at the amount of coverage on the dwelling itself (Coverage A) - is this set up at the full replacement cost estimate amount to rebuild the property? 

I found this property by setting up new listing alerts on the MLS.

I'd like to get set up on the MLS so I can start running numbers etc.