Although, most of the concepts were foreign to me when I began, this community's wealth of knowledge has helped me learn more than I ever thought possible in such a short amount of time.

Not a bad dealNow... there's the taking ownership side of things.Regarding "not using your own money or credit" concept, this is accomplished by using the land contract you mentioned or a purchase and sale agreement in the form of wrap around mortgage or as subject to the existing loan.

@christopher brown,I started out learning about the ss hands on by, managing (3 units starting out) and  also involved with the development process in a ssf from the ground up, so based on my experience,a brand new ssf will need 1 to 2 years to fully stabilize.Proformas made by the brokers do not really mean anything because in all reality they cannot predict how fast the units will rent out.You do need to get know who/what your comp is as well as the market report for the households up to 5 miles. 

Send me a message on here and we can discuss.I think the concept might need refinement but I like the direction.

Our criteria: Gross income (for the household) of at least 3x monthly rent - verified by 3 most recent paystubs.

I was contacted by a company called Global Education Concepts.

Something to consider.Very cool concept though.

I feel like I have the concept down, I'm just wondering how to find my first deal and should I just do a single residence or a multifam?

Almost 60% of the new housing development will be rentals and 62% of the growth will be in southern states, are just some of the projections of this report.New household development in the next 10 years will double the development in the last 10 years.

Even the concept of classifying something as major or minor takes some experience.