It also allows tenants to set up automatic rent payments, so no more late rents!

One suggetsion about getting motivated sellers -- go to Craigs list or FSBO websites and check homes --in your farming area --no more than two or three zipcodes--pick hosues -- A) Listed for more than 90 days -- I have seen some are listed for 176 and 277 days -- B ) Out of State phone numbers-- Seller may haev moved already and hosue is vacant --

When I laid out the financial risks as no more than $300 a month each to cover all expenses if we completely fail, he was onboard.Our first property was financed with Citi bank 25% down 3.875%.

After holding costs, repairs, and purchase price, I want in for no more than 70 cents on the dollar.

For example, no more homes will be 97% LTV, and are more likely to only be 65-70% as LTV, as they will be investments and not OO...

If you sell a property for $300,000 or less and the purchaser (or a member of their family) is an owner-occupant (meaning they plan to live in the property for at least half the year, for the first 2 years after purchase), then no money needs to be withheld.In consideration of this, it might be wise to focus on SFRs with ARVs no more than $300k.Keep in mind that you are still required to pay proper taxes from your real estate deals for each year, but you just wouldn't have to worry about the IRS withholding the money from you ahead of time.

He should be doing the same thing for every other buyer he works with.Know your buyers, give them a deal that works for them, but no more than that.

The LLCs are a small portion of the absentee list so I just leave them in my mailings.If they own multiple properties (I do not de-dup my abssntee list when I purchase it) we manually clean the list to send no more than 2 postcards per owner (for 2 of their properties).  

This should be no more than a couple hundred dollars but can be as high as $800 in places like CA.

@John Ratigan, probably no more than list price, but that is no guarantee that 1: the Bank would even accept an Offer @ their full List price, and 2: the rehab costs will automatically stop at just $45k.Lesson 1: The Banks are not in the business of letting you get free equity easily!