My main concern is the legality of the purchase option agreements.

The letter is to avoid any misunderstanding where the seller and tenant may have a verbal agreement that differs from the written lease.

I have enjoyed visiting this forum and find it to be one of the best on the internet.I'm new to REI and have a very ambitious short term goal of creating a minimum of $7,500/month income from real estate so I can quit my full time job and do this full time.It appears from my research that the most viable area for me to focus on is Wholesaling in that I want fast results without using much of my own money or credit.I respect the suggestions of the more experienced investors on this forum because I believe experience is the best teacher although it can be painful and expensive.So I'm excited to be here and look forward to some great times.Much Success!

My goal for the rest of the year is to purchase at least 6 of these cash flowing properties with a monthly income of $1000 or more and a minimum equity position of 150K .

If you are seeking as a private investor, I can return your investment $1k richer for your kindness, and of course secure said transaction with a standard commission assignment agreement of course fully executed through my broker of record.

Not really asking if its probable but just possible.Let say you find an apartment complex for $1M, look at the numbers, sounds like a reasonable play and you get it under agreement.

Is there anymore paperwork needed than the normal purchase agreement contract with the seller and the assignment contract with the end buyer?

I grabbed 3 of the 5 cabinest I needed at minimum but when I went to get the Stove my limit would not even cover that..What a sleaze..Another of his sons comes by and we talked a bit.. he didn't know anything his father said you had called about a leak .. ( that was 4 days ago..

It sometimes seems the law protects the renter too much and penalizes the landlord just for being a landlord.Best case scenario is the tenants are on a month to month, and even then you have to give written notice, I think 30 days minimum.

the propeprty owner must come up with total judgment amount in full (unless a different agreement has been made between lender and borrower through the foreclosing attorney).