Best of luck with your venture!

The requirement is that a Colorado real estate attorney prepare them.

This is a risky venture for the lender as you can just walk away from the property and let it forecloser, losing no money. 

If it's a single family, you can get into those pretty easily, and they aren't too difficult to manage as long as you are prepared.

Welcome @Daniel Sanchez - my 3 non-negotiables would be to familiarize yourself with your credit score and the things you can do to improve it, figure out how much money you will need upfront so you can be prepared, and identify a target zone or zones in which to buy. 

If it sounds like a venture worth taking on for you or any Agents you know in Indianapolis, please reach out to me!

Hi,I am new to the game, and was wondering if anyone can recommend the next set of books I should read to help better prepare me for my first investment property.

Be conservative, be reasonable, prepare for the worst while you hope for the best.

•Banning ownership of your IRA of more then 10% of ANYTHINGoIf you wanted to own a rental house in your IRA, only the IRA itself could own it; you wouldn’t be able to use the statutory protection of an LLC.oNo more use of Land Trust or PPToNo more Checkbook IRAsoNo more Joint Ventures in which your IRA owns 10% of a deal or an entity•A proposed limit on Roth ConversionoOnly Pre-Tax traditional accounts may be converted to a Roth IRAoFor you business owners, this will effectively mean that only your Employee Elective deferrals ($19,500 in 2021) and Pre-Tax Employer matching will be eligible for Roth Conversions.

@Lamont Marable check your local building and fire codes...putting living space below grade carries a lot of life-safety requirements and needs to be permitted...worst case...if there is a fire and tenants cannot escape...and you knowingly put living space below grade without the required safeguards in place...RE investing career over...Just do it right if you venture down that path...hiring an architect is always the best approach to something like thisBest of luck