Part of your due diligence should be testing/inspecting the well and septic.

If you're interested I can set you up with fine tuned MLS data.

Is there a test to find out?

Those moments have been priceless learning experiences.Though I haven't done it yet, I think getting your feet wet will ultimately allow you to test your knowledge and rapidly build on what you know.

The competition in the immediate area should provide good data on what the market rent should be, but suspect as well that one needs to compare apples to apples and include the effects of amenities.

After about 2 hrs of table talk we came up with only 2 properties to look at for potential rentals...so expect to really put your networking skills to test and do a lot of driving for dollars to find the deals.

Perhaps that's whats great about Reg A is the "test the waters" aspect.

Beyond the legal requirements, we try to use the "reasonable" test on things like that.

A lot of this may depend on your liquid position, ability to access data for the markets you're seeking to invest in, and the type of support you can have in any particular market.I can tell you TX is old faithful and you can get into deals with less out of pocket, but there is high competition and your margins may be lower than say GA.

In this particular deal though as is the case with so many hands in the pot - I couldn't get word across to the seller (through the web of realtors) that he needed to have a separate company do the testing before and after, otherwise how do we know the mold is actually remedied?