Brokers are there for a reason, not just to collect checks.

I may flip "homes" via lease options, but when you collect an assignment fee, you are actually legally flipping the contract.

Ideally, I'd like to drive the property once every couple weeks, but basically never deal with the tenants.Not sure if this approach is realistic... just dealing with the property management for repairs and collecting rents.Anyone else in a similar situation?

The other said he made 16an hr and working 60hrs a week, and just had a repossession of a car several years ago, but when I pulled the credit, I see he has multiple collections for varying things that were recent.

I do have to overcome the fear of holding the hot potato when the music stops (economic down turn) this is why I like to buy and hold for now..

Are you collecting all or as much of your HOA dues as possible?

After he receives the $10,000 he will continue to collect the rent on the 2nd unit.4.

The tenant moved out of state and we will likely get a judgment, but collecting on it - very unlikely.

Based on your collective thoughts and suggestions I am seriously re-thinking the investment.

I think the price needs to be much lower then asking and I need to really verify utilities, Insurance & rents collected.