View report*This link comes directly from our calculators, based on information input by the member who posted.Hi Everyone, I am a novice investor and this would be my first rental property deal.

Based on the above figures, how would that break down for the first year?

The issue you brought up about wealth advisors who have an incentive to sell you a products is a large one and that's why I believe Omar suggested a fee based one whose incentives are more aligned with their customers. 

View report*This link comes directly from our calculators, based on information input by the member who posted.New Pro Member and this is a foreclosure in my area.

@Reginald WillhiteCustodians for the most part do not "consent" to allow an investment based on its merits or compliance with the tax code. 

Should I encourage people to have the owner of the property contact me or would it be better for me to cold call the property owner based solely on the information the lead gave me?

The rents will keep coming in even during a downturn, and the value with commercial assets is based on income - not on the market. 

@Jenn A.Not only would I not pay out anything ... but I would be looking for new tenants based on the “ struggling” aspect they are dealing with .

Based on my potential tenants information I described (450 credit score, many collections accounts, late payments, etc. within her credit report) is this someone that you would turn away or allow a co-signer?

I would just see who is available and schedule based on availability.