Three grown kids - for whatever reasons they are unable to sign paperwork releasing their interest to the home so she can sell to me.3.

@David JenkinsIt's just the ratio of Net Operating Income (what you're essentially earning on your asset) divided by the property/asset value.If you earned $10,000 NOI on a $100,000 property your cap rate is 10%.Now you can compare that 10% to how other assets or investments are performing.

I am aware of the DF regulations to some extent and will use an RMLO and an RE attorney to draft the paperwork but what else do I need to think of ?

She signed that lease last year where it states this.Obviously it's "convenient" for the tenant to know she can simply drop the check or money order over to me because I essentially live next door.....but what she doesn't know (because it's none of her business) is that later this year I will be buying a fourplex with an owner occupied FHA Loan and therefore will be moving away from her so obviously she won't be able to just drop the check over to me at that point.I have another property with tenants in it and they are on "ERentPayment" and it's working out really well.Any advice from the BP forum will be appreciated. 

If they have been a hassle they will likely continue to be a hassle.Next time I would sit down with inherited tenants, go through the agreement paperwork together, and get it signed right then.

What wholesaling is, is essentially being an unlicensed real estate agent with a fraction of the tools in your toolbelt that a licensed real estate agent has in theirs. 

I couldn't find any REI clubs in Mobile so BP will be essential to my success.

I have had tenants ask me this before, and the answer is essentially always no because there's more profit holding the property.

I've done a good amount of work on family homes and Habitat for Humanity projects to know home repair basics.My goal is to get comfortable enough with the process and paperwork to buy a foreclosure with minimum overhead.

Patrick Donovan 203k loans are great but essentially you are taking the equity out of the house and using some of that to repair your house. lol it's always a catch to something that's too good to be true......I found this out recently as I thought it was just money from a large sum of money the government gives out.