Servicing companies are almost a must when foreclosing especially on Non-preforming notes, unless you have intimate knowledge of servicing and foreclosure rules...

I am familiar with the 1% rent rule which would imply that I should be looking to get around 3500-4500/ month for a house in this price range.  

@Nick Zias  to clarify all the postNO you cannot borrow money from a friend and call that your equity. when you get a loan. you in essence have two loans.. lender won't allow it.YES you should in this instance create a LLC with the 100K as a Member.. and there capital contribution is 100k..

Do I go with the 2% rule on rents I hear all over BP or the 0.8% rule on rents from The Millionaire Real Estate Investor by Gary Keller?  

- One home as partnership with family- One home as partnership with a silent investorWhat I am looking to do moving forward:- Create a marketing machine to funnel leads to other businesses that I own/partner in- Self sufficient wholesaling business (employee run, profit sharing, partnership, etc.)- Self sufficient flipping business (team of employees)- Retail Real Estate brokerage for retail deals and property management (most likely acquire pre-existing prop management business)- Expand student housing portfolio- Build out-of-state portfolio for passive income- Possible: Create hard money lending company using OPMWhew!  

Make an account, 'create your own' list, under the 'property' tab scroll down to 'last market sale date' and click on 'last 3 months'.  

@Ryan EllisI'm curious to know where you learned thisWholesaling lease options or lease option assignments should be done on an option release system First step is you enter into a lease an option with the seller with a letter of intent to sell your interest in the paperwork (or if an agent enter into a listing agreement for lease option)Instead of assigning the deal, you have the tenant buyer place 3% of value of the property in escrow made payable to a title co.You have the seller and the tenant buyer sign off that it's agreed that the 3% is a option release paid to youA new lease and option is created between the seller and tenant buyer (with no large option consideration)You could discount the house value by 3%Use a collection co to take rent and pay underlying note and mortgageHave tenant buyer go to bank and save 3% for downpaymentI would be licensed in FL as you are brokering.

I'd like to create a series LLC with my wife, who's an architect.  

My vision is to slowly build a large portfolio, mostly using a buy and hold strategy, to create passive income for myself and future family. 

IF the occupant is financially strong, you use an LMLO,  the price is market and DTI works out and you do a good job of creating a fat folder.