That should put me on track to wholesale about 5-6 properties in 2014.

Either will stop in their tracks and turn you down if they think you're doing multiple undisclosed loans. :)

The utilities remain in our name, but we provide the tenant with a copy of all utility bills so the can track their usage.

RE can be very gratifying.Really helping a young couple buy their first home, making it work for them.Solving problems for others and really saving them from what they saw as devastating or an impossible situation like losing a home.Helping others getting started in some business guiding them to success.Being involved in community, providing safe and affordable housing, no hand out but a real hand up.Assisting people to get back on track in their lives from homelessness.Providing housing solutions through redevelopment cleaning up blighted areas for a better community.Forming relationships with professionals and laypersons that seek your advice is gratifying as well.Having the opportunity to pass on your experiences and knowledge, teaching others how to fish is also gratifying.It's not all about the money, it's more about your contributions in life, to your family and your community

The seller has some interesting record keeping where estimation seems to be the favored method of tracking.

Also, strong work on your quick tip intro track on the BP podcast today!

Especially investors with proven track records of success.

From the responses It sounds like I am on the right track with this setup, I.E., interest only loans or complete payoff at sale or JV are the most common structures.

This makes it easy for both tenant and landlord to keep track of everything.

I would only work with a tenant who had a good track record, in a property that was difficult to fill, as opposed to having it become a vacant target for pipe thieves (been there, done that).