on the other hand, you gain valuable experience.my goal is to minimize the amount of time on the project as much as possible. doesn't always work that way though. :)if it's a hobby, then I don't really consider the time involved as long as it doesn't interrupt your day job and the wife is okay with it. lol

If you're not making at least 3x the rent in gross salary, there isn't going to be much of a cushion at all.On the other hand, if the issue is just that they simply don't have enough guaranteed income to meet that 3x times rule but more than likely are making more (i.e. due to the wife's substitute teaching income not counting), then thats another story.

So when my first opportunity came about with an out of state contact that was not only going to help me get my first deal done but also teach me everything I needed to know about lease options, I forced myself to take action.And I didn't just do ONE, I did my first FIVE, and was THRILLED I was finally a real estate investor!

This is my first multi-unit and it is teaching me a lot.

: )Sorry so short, did not get to respond to all valuable points you brought up.

This deposit goes towards the assignment fee that you get at closing.Here is how we state this in our "Assignment Contract""NOW THEREFORE for and in consideration of the sum of FIVE THOUSAND DOLLARS, $5,000, and other good and valuable considerations the sufficiency of which is hereby acknowledged, Assignor has assigned, transferred, sold and conveyed and by these presents does hereby assign, transfer, sell and convey unto Assignee all of Assignor's right, title and interest in, to and under said Real Estate Purchase and Sale Agreement.Assignor agrees to receive and Assignee agrees to pay $1,000 of said assignment consideration as a NON REFUNDABLE deposit with the remainder to be paid on the closing date of said Real Estate Purchase and Sale Agreement."

GOOD AND VALUABLE CONSIDERATION: I have received good and valuable consideration in signing The Agreement, and I acknowledge both the receipt and the sufficiency of the consideration. ________ 4.

While I can't dedicate the time to teach you everything (the forums, tutorials, podcasts etc can do that) I am here to answer the more advanced questions. 

For just 2999.99, I'll teach you all about the super secret craigs-list-option strategy.

No credit or capital, you need more knowledge to apply management skills and no guru is going to teach you the real knowledge to success, in this area, they sell hopes and dreams.