Have all of your files electronically and know your way around a computer.

ENDORSEMENTS$100.00MORTGAGE INSURANCEmonths @$455.96RECORDING/FILING FEE=$0.00TITLE CO COURIERREAL ESTATE TAXES6months @$420.00TITLE CO DOC PREP/DOC FEE=$2,520.00WIRE FEEFLOOD INSURANCEmonths @NOTARY FEE$200.00=$0.00TRANSFER TAXOTHER:OTHER:OTHER:TOTAL ESTIMATED TITLE/ESCROW FEES:$3,100.00TOTAL ESTIMATED IMPOUNDS:$2,820.00

Lots of ways to do it depending on how much you trust the guy.If it were me Id get the operating agreement for the partnership lined out so expectations are set and open an LLC with 2 person ownership.Let him get the loan in his name, put the thing in a land trust with a third party trustee with fiduciary responsibility like a lawyer, then file a second security deed for whatever you put in.

And yes, the below-market leases absolutely survive the sale unless the leases give you a right to terminate or contain some other non-standard term.

Your insurance should cover the damage to your home only (if you file a claim with insurance) and if the tenant doesn't pay, I would evict immediately.

We've had recording issues where we've had to actually file a complaint against the title company with the regulators.

I bought my first tax deed in Florida 2 days ago (Single family home) but I am not sure how to file a quiet title action to get clear title need your help here.Thanks

My tenant is already in the house and then filed a pet application to keep this dog for her son.

Here's a little worksheet I uploaded that will give you a good idea (reality check) of all the expenses and other considerations that you will face with any rental property, but multi-family in particular has more expenses that may not be immediately evident. http://www.biggerpockets.com/files/user/d1beard/file/buy-and-hold-analysis The Cincinnati REIA is worth a visit (first visit is free), though for me the jury is still out on the value of spending a lot of time with it.

The investor(actual note holder, not the servicer/bank that you'll be dealing with) sets the standard for the BPO procedures.