I have a good friend that has several properties and I am hoping to duplicate his success.

There may be a rare exception when you line up a SEVERELY undervalued deal and you find a hard money lender willing to loan based off value instead of purchase price.

From my research and talking with several accountants/attorneys, I don't see much of a difference in MA.Thanks.

I'm looking to get more aggressive on that angle as well.My goal is that by the time my oldest son graduates high school (he's a sophmore this year) - I will have enough passive income to make this a full time career.I would like to network with wholesalers, bird-dogs and other agents in the area.I'm not a member but I've attended several of the Houston area REI club meetings/mixers.I'm very open to any and all advice and/or educational opportunities to move me along.

Purchase Price to rent is one of several filters you can apply when looking for potential properties.

I've not been to one of those, but have worked with Kevin for several years.

A few months ago, when it was first listed, at $320k, I made an offer at about $285k, and it was rejected right away, they had "several" offers at asking.Well, 3 months and 3 buyers later, the agent calls me back, (I knew her from other deals), and said they are a week away from auction and 3 buyers had fallen out, and they are now ready for a cash offer.

But, there are plenty of other REO deals (those that have been sitting for several months where the bank is willing to take a low offer, for example) where you'll find less competition, and a financed offer closing in 45 days will be fine to the asset manager.But again, these terms (other than the 45 days) are great...don't let the long closing time deter you from trying to take advantage!

One of the tenants was a real jerk when we did a final walkthrough, and I have witnessed on several occasions that there are two people living in the apartment and 1 small dog, although the lease states an occupancy of 1 with NO dog.I don't want an immediate problem, and would prefer to avoid immediately having to deal with an eviction.

My plan is rent out each room as its own little part-time apartment to several pilot buddies while keeping one room for myself.