I have slowly been positioning myself to start a resedential rental business.

Just start with that and work up to minimize the cash out of pocket.The seller can take back a note or they can have an option on the property to protect their position.

Personally, you've spent $16,000 so far on education/classes.I'd probably cut back on the spending additional money on classes for the time being, and try to get some first hand experience.Try to get into a "bird dogging" position for one of the known to be successful investment persons in your area.

My ultimate goal is to have about 2000/month positive cash flow to supliment my pension income when I retire in 5 years.

To not record it could be fraud depending on your position and why the option was not recorded.In some states the option does create equitable title so there would need to be something other than a simple eviction.

It is amazing to see a country (UAE) position itself for the future.

hello;the deal from the surface looks good if you are looking at it from an equity standpoint. the key here is to know ALL costs before you sign away. with missing numbers from your plumber/Eletrician, you cannot make an informed decision. i suggest you get that asap to input all the known numbers and then make a decision. you don't want to find out later that the costs are high and that you end up buying a break even deal. because the positive cash flow on this unit is very low already, you don't want the equity to drop with costs you don't know about yet per the work that needs to be done to bring it up to par for rental.Sincerely,-vinh

Mike Collins is in tampa florida and runs the websites rehablist and yousell anyway they are offering a position as a gatekeeper to a specific county which means all their resources find the deals e-mail them to you and then you send them out to the registered investors they have in that county and which point you become a partner with them in the wholesale business and make a profit from the sale.

Would it be a better option to refinance for $58k and take the lower mortgage, or refinance and cash out and deal with a higher mortgage, possibly reducing the positive cash flow?

I started buying positive cash flow residential properties about 5 yrs ago and got quite a collection going all over the state and in Washington.