In many ways they should have gone up a long time ago as they normally stay about the short term rate.When people talk about falling bond prices and rising yields that is a signal that you will see rising mortgage rates fairly quickly after the bond movements.John Corey

Yes, they are making a big mistake because they are going to lose a bunch of money (which is opposite the normal purpose of an investment).OK.

Emails are even quicker, normally within the 1/2 hour since God's blessed us with the technology of the Treo (mobile emails).

When I put the property under contract, is this done with an attorney present like a normal closing or do I just have the seller and I sign the contract?

Your city is normally the one who sets licensing standards.At the state level there are restrictions on being a property manager for a property you do not own.

Like they have a closing on another property and they will lose the deposit if they don't close on the first one.Then find someone to lease purchase it from you.It is possible not probable to find a no money down deal.the other no money deals I have been apart of is when I arrange the buyers as a group and I take a small piece of the pie.

In my market they normally list the owner as "client of office" and its always sold "as-is".

Normally, it is 5%.

No cash flow to really cover your backside if you do the wrong deal.Granted I started investing in CA and felt rather well trained when I moved to a more normal market.John Corey

If the buyer is looking at cash flow only he is not my best buyer b/c he is bottom fishing and in a solid real estate market the bottom fishers are normally buying properties in declining areas of town that have little to know chance for appreciation.