Vet hard: ask for a recent tape they sold and buyer references, verify they’re the seller or have a written mandate, avoid anyone asking for upfront broker fees before diligence, and insist on a clean chain of assignments plus collateral file access under NDA.

Fastest close I’ve done was under two weeks using true private money with docs ready, clean title, and an appraisal waiver from the seller’s side to keep it simple.

It’s free, handles rent collection, expense tracking, and gives you clean property-level financials for taxes.

They can also help with pre-move-in tasks like overseeing cleanings, showings, ongoing yard maintenance etc. 

Before you swing a hammer, confirm clean title, redeemed taxes, code liens, and permit history; get utilities on and do a full safety check: roof, foundation, electrical, plumbing, HVAC, and sewer.

Tes, keep it clean and lender‑friendly: have the purchase contracts show true market value, then reflect the discount as a seller credit labeled “gift of equity” from your parents, backed by a signed gift letter and proof they own the properties; expect the lender to require an independent appraisal, standard reserves, and that the gift only covers down payment/equity, not your required closing costs on some programs.

That separation makes tracking income, expenses, and cash flow super clean.

And even if it’s a private loan from a colleague or your Aunt Edna, whether they know to ask or not, you should insist that they are protected with a clean title insured through a title company and that the property has adequate hazard and liability insurance. 

Your construction eye is an asset, so pair it with a clean deal calculator and two comps.

Buy a clean, bread‑and‑butter rental in a stable C to B neighborhood, verify real rents with a local PM, and budget for true costs like taxes, insurance, management, vacancy, and maintenance.