As a matter of fact, here's a link to a webcast that addresses your question.http://www.blogtalkradio.com/markjkohler/2013/12/03/training-your-children-regarding-money-and-taking-a-tax-write-off-too?

I'd suggest any advisor would need to have formal training and experience from more of an institutional side, having money and buying notes doesn't mean there is knowledge there.Offering less means less to lose as to your financial risk and more on the up side.

Quick question to you since you are studying RE:Where in LA or OC or online can I take few courses on Real Estate Development and Construction Management?

A sale contract sets obligations on both parties to perform, if a seller sold while under contract they could have legal consequences as the sale is between those two parties.If you do a sub-to, title passes so the owner can't sell again.A first right of refusal can be used as well and actually tie up a property better than an option contract.Need to study the types of interests held by owners and tenants and conveyances of those rights and these matters will become more clear.

It's no different than real estate investors who spend a lot of time studying, setting up their LLC, building their team, etc. -- and then wonder why they aren't getting any deals.

If you have your license and access to MLS, I suggest you attend the training they offer to members to get skilled in setting up searches that will help you be first at the table when a great deal comes along.

Studies have shown that with increased walkability there tends to be increased property values.

I work for a bank and during IRA training today it was briefly brought to our attention that the IRS waives its 10% premature penalty on a Traditional IRA distribution if that distribution is used for a first home purchase for the IRA holder.

I, personally, prefer renters who have a well-trained family dog.

You would have one month to study, a month to train at the brokerage, two months to find clients, search properties, put in an offer and a month to close.