If they do buy house, may use your reno budget as a starting point to get some guy off Craigslist to do it cheaper.3.

If your very tech savvy, you might feel more in-control of how your getting your message to certain groups of people and it could be cheaper than other forms of marketing.

I'll will be the one doing the house hunting and putting money down and he would be in charge of rehab.  

You should be able to contact your local county courthouse and they can point you in the right direction and they will have much more accurate lists and probably cheaper than you can buy from a big listing company.

NO communicating with you, keep proceeds of rent, poor tenant management.....drinking, drugs........ over charging?

Do the numbers still make sense if you had to charge 10 or 20% less for rent?  

I have a group that meets monthly(my profile has details), there is another group that meets monthly, there are 2 real good BIG groups that charge $140+ per year but are great for networking.Start meeting people, learning, business cards and let everyone know that you are looking for properties to purchase.

If the guy owns the house outright and is renting to you cheaper than what the market would allow; if the guy owes so much on the house that you have to eat his shortfall; if your roommates move out and you can't replace them; ETC. 

Banks I talked with do not like having many small properties for collateral and want  to charge me huge amount in 9 full appraisals and points ...

C Meddy,I use a guy in OC that charges a very fair rate and also owns rental properties himself.