What I did in turn was I invested some money in myself and took loan originating courses to familiarize myself with real estate transactions.

Buyers did all they could to follow escrow schedule while selling agent did not perform as outlined in escrow schedule (selling agent/seller chose escrow company).Selling agent requested us to remove loan contingency, while buyers submitted a notice to perform to seller to deliver the all the signed lease agreements as well as a 1 week extension on closing date for loan (loan officer and buyer's agent have strong relationship and in my understanding, had to work really hard to get through all the hurdles so far).Can I get your thoughts on the situation, potential scenarios, and how the buyer can successfully purchase the home?

hello everyone,I've recently made two offers on short sales, (they both happened today)as they looked like good deals when i quickly ran the numbers, so i made offers on both as things are going crazy fast here in vegas and i thought it was best to submit an offer then have the option of turning down the deal if it wasn't a good one.after using the rental calculator one cash flows for 90 and the other for 60. and this is without me allowing for cap x on either, the reason for this is that ones a town home and the other is a condo, both with good hoa's, i did allow 5% for repairs which i think is a lot as the condo has just been totally refurbished and the TH was in good condition and I've allowed 1500 for touch ups, so it'll also be like new after I'm finished. my thinking was that this 5% would cover both repairs and cap x as there shouldn't be much in the way of either. is this a terrible idea for me to allow so little for both.i would be waking in with 25k of equity on the TH and thats without my 20% down payment. and with the condo id be getting around 13k.here are the rental calculator results for both-any help would be greatly appreciated!

It's hard to turn a crappy deal into something that works well.

Turns out I sucked at flipping houses but I'm pretty good at rehabbing multi-unit properties and then holding them long-term, as a landlord.The most important lesson I can share is "you make your money when you buy the property".  

@James Colon, I haven't worked with any turn-key companies in Jacksonville yet, but I would check out JWB.

I tried to include all the pertinent information below:Rental Income: $13,200Rent: Currently has a tenant on one side at $550 per month without a lease – I’ve made it a condition of the sale that the tenant has either signed a new lease with my property management company or delivers that side vacant; other side is not rented out due to required rent ready repairs; rental comps in the area show between $550-600 (I’m being conservative and assuming $550).Expenses:Vacancy: 10% ($1,320)Property Management: 10% of gross rents ($1,188)Property Taxes: $2,065 ($905 for City of Memphis, $1,160 for Shelby County)Property Insurance: $450 per year Repairs and Maintenance Assumption: 2% of Property Value per year ($980 per year)Utilities: separately metered; all paid by tenant except for lawn mowing at $25 once a month for $300Advertising: 6% (roughly ½ of first month’s rent) $792 per yearDebt Service: Based on $49k purchase + repair price, 20% ($9.8k) down, 5% 30 year fixed is $2,525 per yearLocation:This is probably where most of my concern is coming from: Western edge of Hickory Hill, Memphis, 38115; major cross streets: just SW of Clarke Rd and Winchester RdAcquisition:Purchase Price: $42k, seller to pay closing costsRepairs: $7.5kTotal Acquisition Cost: $49.5kARV: Large range of comps in the area, best guess is $60kFinancial Metrics:Net Operating Income: $6,105Cap Rate: 12.33%Cash Flow: $3,580 per year, $298.33 per month, $149.17 per unit per monthCash-on-Cash Return: 36.5%Do you think it's a good deal?

If the economy turns for the worst people still need a place to live, hence the increase in rental need.

If I understand the little I have read about the process, this is how it works:A regular lease is signed, just as for any rental, and in addition to that, a purchase option.

This is a terrific way to meet folks, learn investing and have fun doing it.Next, sign up for @Brandon Turner's weekly webinar.