@Jon Holdman FYI because I thought you'd be interested: I have heard it regularly called "open escrow" in Texas as well, at least among local investors in Austin

So, its no worse than a regular W2 job.What is worse is that because you're self-employed, you have to play both halves of the Social Security taxes.

You need to have an area that is used 100% regularly and exclusively for business.

I'll update this thread as the loan goes through process.

Some of these sites look shady so I'm looking to chat with someone people who use these sites regularly.

He takes 5% every year from the rental and is looking after all communications with the tenants from finding to renting out, to paying regular visits to look after the property, and to act on my behalf in disputes.

The mailing address has also been updated.

Even got a couple of properties under contract, but the deals ended up falling apart.I'm confident that I'll get a deal done, but this current process won't work for anything resembling consistent income.So my #1 issue is - how to find motivated sellers and how to find them on a regular basis.

You can certainly get wealthy but not by working 1 hr a week and watching your accounts fill automatically with money.Real estate takes work especially when you are starting out with little knowledge, no contacts and little idea of what a solid real estate deal really is.Another false image is that you can be buying properties with little to nothing down on a regular basis.

I asked for updated copies of leases/tenant information as at least one of the units has a new tenant the title company didn't have that either.