You just aren’t as hands on. 

On the one hand, we feel we were very fortunate to find this opportunity. 

With all details in hand, there still never seems to be a true apples to apples comparison on which plan is “better”.

What we haven't figured out is a good starting point for on hand reserves?  

If on the other hand, he has decided that he is going to be leaving soon, but there is nothing official, then the loan would be based on the current/past employment history.Hope this helps you and your friend.

A family member is also a real estate agent and would provide me with the 3% commission on the purchase of the new properties, minimizing cash outflow on the new properties.So my high-level thoughts are, I could downsize and buy two properties, which would reduce my monthly living expense by 1) a smaller primary note and 2) income from the MF offsetting a portion of the primary note, and at the same time I would be able to pull the equity I have built up in my current home, plus my current cash on hand, to further invest after the dust settles.

I compare this with a quick verbal or hand-written rundown of a cash sale.Since I am a real estate agent, I present both sides to the seller and let them choose what is best for their scenario.

I want to get more of an understanding and more hands on so I am looking for potential landlords and gain some insight and knowledge!

Appraisers on a sale start with a contract in hand with the sales price.

If you are buying the performing notes yourself you can do better than a 9-10% return, although they won't necessarily be hands off.