I contacted an attorney and he will create the power of attorney forms for a $1,000 retainer as well as $250 per hour for the legal work involved.

@Steve Carlson Finding a partner who has a W-2 could be an option.Do you have any debt?

Either way, placing debt on a property will kill your cash flow...just a few thoughts.It's all relative and your personal investing approach should be a heavy factor here.

... its probably a rat, I know, but I want to know if the offer I have received is legally possible.I want to sell a property to a tenant, but he doesn't have much for a down payment.

When we started doing deals we had nothing and we’re over $50k in debt and within 100 days we had over 100 doors and were closing on around 20 deals a month.

I come from a legal background and know a couple of decent counselors who you can run this by, and I'd be happy to refer a couple with justifications for why (x) attorney is better than (y) in this circumstance.

It was all based on debt to income and LTV. 

There is no bank qualifying I need to do or worry about 25% down or debt ratios or any of that stuff.I keep $5k per house in reserves so that I can always make the underlying payment and cover emergencies.

seller said he wants 2.5mil for a portfolio with 4.5mil debt.. huh?

What would legal action look like to recoup some of the costs?