As an example: duplex->fourplex with all units leased until the end of the year, but would like to use the property as an OO ASAP.Clearly wouldn't/couldn't evict the tenants (nor would you want to start your land-lording on that note).Not sure if you could (or would want to) "entice" one of the tenants to move or brake their lease before it is up.

They said one of the entity options was an Illinois land trust.  

Just don't let hype excite you into making poor decisions.You'll have a lot to learn, the lay of the land, the market, local customs and laws, first things first. 4 hours a week?

All parties have good intentions but you will be wiser to start your land lording career with a safer bet.Laws vary from state to state on your rights when sharing your own private property. 

Not really supportable over the long term.Michael, I have made this same comment... when you add up all the gurus all the BP members all the other guys out there pitching that Real estate is the way to the promised land. you are creating far more competition than deals.therefore 95% of people that try to wholesale never get anywhere... and then you have those that have more money then experience and they pay too much... its tough.. it really is. 

It was this event that perked my interest into REI, landed me onto BP, and now I'm hungry to find my first deal!

My realtor dropped the ball by giving me her phone number.  

(I have been doing land contracts to non-owner occupants for business purposes.)

Because of the tenant issue and the fact we could not get an interior inspection, we made a low ball offer on the property.

i look at what new houses are going for and take that square foot price as starting point and figure the cost of the land in the new home will make up for the higher percent cost on an addition. hope this helps