Now it may seem hard but nothing in life is ever easy and if it is most likely there is something wrong with what you are doing.

Then, I would suggest coming up with a written screening criteria, so that it is easy to know who you will take and who you will not.

Its pretty easy to find out the nightly rates, property prices, and I'm sure a property manager could clue you into their costs.

One of the bedrooms needed new carpet but he "didn't want to waste his money buying brand new carpet for someone else" so he literally ripped used, old dirty carpeting out of his OWN house and brought over to the flip and installed (of course it was a disaster).My favorite thing about this show is that it provides solid evidence that Darwin's Theory is hard at work in weeding out the sub-par flippers.

If they make every payment on time for a year or two, your investor friend can hold the note for a nice investment over time.I do think that giving them 80% of the payments towards equity is too much, he should consider much less.Tenants should be easy to find via newspaper ads with a prerecorded message to screen out interested people.

Its pretty easy to file, no lawyer needed.

This is very true in the RE world and evident in our country.For instance, previously it was seen as common place to purchase a property without seasoning.

Oh and don't be nervous about your first deal (I know that easy said then done) for if no one took chances then there would be no investors!

Real Estate.....It's easy stuff when you take it 1 step at a time.

It should be fairly easy to get one but I’ve never done a L/O.I can provide a referral to an attorney if you need one. 8)