Knowledge is important, but action is more important.

So don't base action on being ready. 

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Failure to do so will result in this action (based on the Agreement and/or local law).

Hello everybody my name is Simon and I'm a beginner in real estate investing and looking to invest in my first residential property unsure of what strategy is best for me and my situation or where to start my primary focus is cash flow although equity is nice too I'm currently reading the book on investing in real estate with no and low money down to get ideas on which path to cross aswell as to develop an efficient plan of action what do you guys think?

Purchase price: $425,000 Sale price: $455,000 This was a driving for dollars deal, contacted the owner in March, when I first started taking action, got on the phone with him and asked him if he was the owner of 123 main st, he said no, I said okay thank you so much, have a good day, and then I got off the phone and realized I didnt ask him if he has any houses for sale, so I TEXTED him, and he said YES actually !

If seller has higher cash offers, and is still operating within the terms of the sale agreement, then I don't see anything wrong with seller's actions.

I want to know if there are actions I can take to ensure they uphold the rule on rentals in case they do not have the covenant ready at closing?

Learn what documents they need from you during underwriting to understand their process better and know what sensitive information you'll have to disclose. 

After listening to BP podcasts, reading books, and watching videos for years, I am finally ready to take my first actionable steps.