On that note the information gathered should be used to select a good attorney to assist with developing the business.How are you pros managing your seller financed business?

Then do re-con work... gather all information... addresses of all is a MUST.

They wont be clients of yours but it could be a way to network.Take action.....monitor and track the results.....adjust and take more action.

If out of state, you don't have to worry about the client being able to drive by the properties to check things out.

I usually tell my clients to begin this way, that way they have an idea of what repairs cost, how much taxes/insurance/maintenance are, and what homeowners deal with on a daily basis.

The house I live in right now was a HUD home when I purchased, and I submitted to HUD I would be an owner occupant.I've got a client who purchased a home from HUD as an owner occupant, and the day before closing he informed me he is considering selling in the next year.

Why does your client need to sell?

I am working with a gentleman who is an investment advisor and has a big bunch of client money under management.

I made a good faith effort to try to make it work for a bookkeeping client of mine but it was too frustrating.

I typically use this strategy for my clients who are able to deduct rental activities as passive investments and the accelerated deprecation does not put them over the threshold for the passive loss limitations.