Hi @Elia I actually went to a meet up for the boston area Real estate investing association and I definitely might just start going regularly and get myself acquainted alil more.

Go for the lender who really understands REI and the guidelines that are associated because the scenarios are naturally very different than a lot of lenders typically deal with.

There was also a little trust there because he was the friend of an associate of mine .

I am not familiar with the fees associated with and if I'd end up saving money on my taxes.

I know some associations are prohibiting this.

There's also a lot of costs associated with investment properties that don't apply to primary residences like vacancy rate, evictions, property management, faster wear and tear on appliances, etc. 

Unlike single family homes where you control everything, a condo will have some sort of master association which will call the tune.

They split all the operating cost associated with the property and share in any appreciation or depreciation the may occur while they own it.

sa=t&rct=j&q=&esrc=s&source=web&cd=5&ved=0CEoQFjAE&url=http%3A%2F%2Fwww.massmortgagebuddy.com%2Fwp-content%2Fuploads%2F2013%2F02%2Fcontract-to-purchase.pdf&ei=VQL3UqmyN8f30wHcr4GwCA&usg=AFQjCNHd6Wt4LeAm-OUcvcftoQoNNc2Jkg&sig2=a7aYOISYkZTGMW0VpQvZEQ&bvm=bv.60983673,d.dmQAssuming the link works it will just open a PDF of the official form I just pulled up on a Google search for the MA Association of Realtors form.Biggest thing is what to do with the escrow money.

I would want to know for sure ahead of time what is going to happen if someone claims they paid rent in error or something of that nature.A standard credit card vendor could work if you are willing to pay the fees associated and accept the liabilities associated with that.The easiest solution (and what I do) is to offer a "rent discount" for tenants who pay using direct deposit.