A great looking house that produces 300 monthly cashflow.

All the while, you always have control and nobody else, not even your attorney, can manage or sell your property except for you.If you need to prove ownership for financing or any other reason, you simple produce your company documents as well as your banking and accounting records.

So, they know they will be buying a decent home at a decent price and they will get a cut of a healthy commission.

I love the career.. but I started pre internet I mean pre fax machine.. so things were quite different.I owned a brokerage here in Portland for many years.. and basically had about 50 agents working for me at anyone time.10 were constant producers making 100k plus of those 10 3 made over 200k and of those three 1 made over 500k. so really depends on your needs on the revenue side.. also you need at least 1 year of living expense in the bank.YOu need all of the above that was just posted.. and on top of that very good sales skills.. 

I've heard some positive and negative reviews about listsource and that's expected, but I don't want to buy a list that isn't producing any deals.

The only way I can produce buying power is use a heloc.

These situations, if encountered typically become engineering and construction problems that are ultimately solved with the developer's money.You are encouraged to do a bit of due diligence before spending an inordinate amount of time on this (or any development project) by:- Determining the highest and best use you see for the property- Running a pro forma to understand the project's value (sales or capitalized rental income) to see if the project makes sense financially - creating a project schedule and pre-development budget-Using the above data to approach the school district to see if they will work with you based on an offer that you make to them that is informed by your due diligence and try to get the property under contract if you can come to terms with the district with a closing date you think you can meetYou may well discover that the school district would prefer or may even be bound to dispose of the property thru an RFP process, that is a "request for proposal" where you and anyone else can throw your hat in the ring to see who produces the most attractive (to the district) proposition.

Be aware that the average person only stays in a home for 7 years and when you have to go through a foreclosure you may only have about 20% of those houses "healthy" enough to go back into the market without repairs and big cosmetic work to be done. 

Best regards,KevinBP Podcast Producer

@Anthony Greco For rental agreements, any one of the following three sources should work and be able to provide you with an agreement that fully complies with your state’s laws:1) The residential lease agreement put out by your state’s Association of Realtors. 2) A custom lease agreement produced by an experienced landlord-tenant attorney in your area.