If the contract becomes null and void, then the contract is no longer effective so neither party will have contractual obligations or rights. 

If you buy a personal and than rent out the rooms you can effectively live rent free while being able to take advantage of the low down/interest rates  of personal property. 

It seems to me this would be much more effective as we would have to put up less cash for deals and could have more than one going on at one time since there is less cash needed per deal. 

If hiring a licensed RMO isn't cost effective, getting a license isn't too onerous in most states: take a 3 day class, and have a decent credit history.

Is there a site that is free and effective for investors? 

Loan limits can increase by a factor of 3-5 in many of these cases, but this comes with a major tradeoff of 3-5 percent "compensating balances" (read more collateral via covenants or less money loaned in effect)Item 2 is desirable from the perspective of reducing brain damage and consolidating relationships.  

Otherwise all income and expenses will be in proportion 25%/75%I am looking for the simple and cost effective solution, which could keep each other accountable.Kyle

Hi BPI am future planning.I kinda know about 1031 exchange but never done one, b.c #1 timing and #2 not cost effective at the time------I bought a duplex that has 2 separate deeds, I am currently rehabbing and hopefully sell them individually.As it's tax season we were talking about the tax consequences with our accountant.- my husband is in a tax bracket that capital gain is almost equal to normal taxes, so my accountant says it didn't make a difference when we sell traditionally-also we would have held it for less than one year, if all goes right. no real tax benefit there.

I have advised the sellers that I think the best course of action would be for them to give notice of termination of  their month-to-month agreement with the tenant by the end of this month effective March 31st (this gives the tenant the required 30 day notice).  

So SFRs work fine.They do cash flow for me, and because I replace every major system, I have effectively zero maintenance calls, which is very important to me because I have a busy life with a job that requires frequent travel.