It is a duplex, electric is separate but water and gas are not.Purchase price: 71,000Annual Rent:18,600EXPENSESVacancy:1,860(10%)Maint:1,860(10%)Managment:1116(6%)    750(placement fee 50% of rent)Capex:930(5%)Insurance:1200(est.)Taxes:2,883Garbage:290Total:10,889Annual Mort:3,453.6018,600-14,342.60=4,257.40 cashflowSeems like it could work, i am thinking i will have to bill the tenants for gas/water/sewer after I get the bill. 

Now this is where I start getting confused, I have yet to understand how to obtain an "assignment contract", which as we all know states that if I do not want to purchase the property I will assign an investor who will.

I have put a house under contract and currently in due diligence phase.

I even heard of some investing in lottery winnings and/or sports athlete contracts before.

I am buying a property on Land Contract, and am buying it with equity.

Hi Andrew,I had a similar situation last week with a contract I offered on. 

Stockton University will be opening it's Atlantic City campus this year which consists of a Residence building on the beach block, Academic building across the street and a shared garage with South Jersey Gas.

I have also told them that I can wire money into title immediately after they sign the contract and again close as fast as title can move.  

They both insist that there are creative ways to structure this deal so that me and my mother can LEGALLY , and secured by CONRACT, be able to collect the net proceeds, and split it 50/50 as her and I agreed from the start.One of the proposed arrangements I researched and sought legal consul for, and am fairly certain would in fact still be an act of fraud.A broker brought in an investor who proposed the idea of purchasing the Mortgage Note, and giving us the difference, secured of course in advance by a contract where we would agree to forfeit the Security(house) once the note was purchased. 

I was once new and started out in 1982 with just a buyers contract and zero money.