The attorney seemed a bit put out with what I was proposing to do and very critical of wholesaling in general.

Everything can be verified. b. the properties will really rent as fast/easily as we hope at the right price or higherMost of the time you will have tenants in place with 1 or 2 year leases. c. the tenants don't destroy the propertyThat is a function of good property management, qualifying and screening. d. the property manager is honest reliable and capableAgain, due diligence is important.

Feel free to comment, criticize, or offer any advice you have.

Germain Depository Institutions Regulation Act of 1982, provides an exemption to the Due on Sale Clause being triggered if the property is transferred to a relative as a function of the death of the borrower.

Assuming the property has no immediate repairs needed.Landlord pays water go 60% for expenses.1,600 rent X 12 = 19,200 a yearTake 19,200 a year X .40 (60% costs) = 7,680 NOISo at a 10 cap purchase is 76,800If you use 50% costs instead a 10 cap would be 96,000 sales price.I wouldn't do this because of putting 15,000 down for marginal returns at the price the seller is wanting.Why don't you put no money down or pay a small option fee for 90 days to see how the property runs and functions.

Right now that would be about one page, just the basics.If you have a portfolio of homes and you are seeking private money or loans from local banks then one might be helpful.People spend all kinds of time and energy, even expense, on entities and business plans and don't even own a rental.There are things that are critical to learn about investing and being a landlord that will require time, effort, and sometimes money.

Understanding the various pros and cons of rehabbing vs wholesaling is a critical aspect and at some point I will take action when I've solidified what I ultimately want to accomplish as an investor.

I have been doing lots of reading up about Tax and other issues, as well as trying to locate a market.I have a few questions, but I will start with this one, because its critical.

@Adrian Rice,Education and Experience Are Critical to SuccessThe real estate profession is extremely complex with many intertwining segments.Because of the complexities of the real estate business and the need to be more competitive by knowing more, education is critical to enduring success in any business - especially in real estate.I understand your financial challenges, however, making mistakes can be much more costly over a very long period.

@Lubasha White Hi, almost missed this, use the @ function and you can get the attention of anyone who posted in a thread. $1 sales have nothing to do with notes, I'm sure of it, LOL OPM is lingo for other people's money.