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A couple of questions for you C Martin:Where did you educate yourself about ripple effects on my state's foreclosure laws (and documentation, workout requirements, etc.)All these types of laws are what I am struggling to find gathered so that I know the laws and regulations that I should be following.

If he's a landlord... he's not an idiot (well maybe some are)...So this means... either one he has some-type of motivation aka need money, rate reset, law suits, or moving to Zimbabwe (JK on that part)... you need to find this out...What I've ran across is... alot of "land lords" want to dick use investors around because they want to just - "see how much they can get"...So finding out motivtional level is huge.

In fact, under contract law, most contracts are assignable unless there is a clause stating they are not.

Check your state laws, most of them set the maximum late fees.In Iowa, it's no more than $10 per day with a maximum monthly late fee of $40.

I say5 - very good handyman6 - first name basis with a very good local plumbing company, with 24hrs service.7 - familiarize yourself with eviction proceedings and laws in your area.8 - Have a robust website and make the tenants use that for complaints and repairs request during off hours.9 - make sure your fee is just your fee and make sure real estate owners pay for all repairs in your contract.

I don't want to..ya know...break any laws when I start out.

Nevada is a VERY good state for business entities - but then again, if you have business entities that own real estate, it is usually best to have the business entity formed in the state in which the real estate is located.Anyway - A Series LLC is a way to form "multiple" LLCs under a "parent" LLC, yet it is still only ONE business entity for state law purposes.

That would be your most likely source of funding for a fixer.Also, be very aware of any redemption periods that might apply (varies by state laws); if there is some redemption period, you might end up having to hold through the entire redemption period before you can get anybody to be willing to lend.

Probably if Fl has the same property laws as Tx.