I realized that simply earning money following Jeff's advice across different part time jobs and investing wisely and networking with other folks is the way to go.Yes indeed many wonderful folks in this forum are right.. you can network with others to help you get the house.. where for example you can be the guy with boots on the ground, while investors provide passive income or partially also be a bit of both active and passive... type of investors... where for example some of them can help you analyze deal and get it under contract... 

So would I show the details of the wraparound contract?

This is a one-pager that has a few photos and descriptions of the property, for Craigslist, BP, local RE Club, Facebook marketing, once you have the property under contract.

I accepted a contract on the home this weekend and it was for an FHA loan.

Some things I would add to contract are-condition of me remaining owner-conditions of us keeping an owner/manager relationship with the rest of units- contract at market rent with credit of among we agree upon (maybe 8k) I agree,  if it gets more complicated than this,  I wouldn't do it. 

Contract for deed is preferable with 10-20% down, depending on price.

In fact, I had to yank the 3rd floor kitchen, pull the 3rd gas meter, and "upgrade" the electrical to two separate service panels instead of 3. 

Some people who levered up were hurt bad when rents contracted so you will want some cushion. 

I updated the purchase price and submitted a 2nd LOI.2- The seller signed and sent me the LOI back.3- On Thursday, the seller's agent notified me that I needed to send them a contract in order for them to cancel the showings scheduled for Saturday. 

I used to use $30/foot as a decent ballpark figure for renovations, but it seems like renovation costs have gone up quite a bit, $40-50/ft has been the new reality lately, but of course it's tough to put a 'per-foot' number on any particular project because everything is unique.Mobiles on their own land can be flipped, just pay attention to the age, anything before 1976 will pretty much have to be sold on a contract or to a cash buyer.