I'm looking seriously into this strategy.

Hi Mohammad, glad to have you as a part of this awesome community!

My question is, what type of agreement do we need to get this deal locked in (I thought my BP Pro membership would have some agreements, or something - not finding anything)? 

Will this help our economy?

For example, some of the property might even be eligible for bonus depreciation, but whether or not you use it depends on your short- and long-term strategy and individual needs.

This would only leave me with $41,000 to bring to closing + closing feesJust make purchase price $421,000 loan would only be $336,000.

Sure, the rates might be a bit higher, but for investors who need to move fast—especially in this market—the flexibility is worth it.Another trend we’ve seen is a shift in focus from appreciation to cash flow.

Obviously with this summer’s market it wasn’t the best decision for making a lot of money but I’ll still make some, learn a ton, help out a neighbor, and got my feet wet!

I am newer to this but have done years of research, read books, and read numerous posts on this forum.

I’m sure this is an easy one but I am new to this strategy.