That's exactly what I did when I was in your situation...I would 100% do it again...Things I did well-Found one that was a for sale by owner that needed some work - gave me a lot of rehab experience-Fixed rental side first then lived in and worked on my side-Use Postlets and Craiglist plus yard sign to advertise vacancy-Change my voicemail message to explain all details of property = saved me many calls explaining the same thing.Things I would do differently-Read the tenant screening book on this site first -Always do open houses instead of individual appointments-Ask people to bring their dogs if you allow to appointments-The location of house was great for all things in my life; but would consider moving sooner to have multiple duplexes with owner occupied financing

I was trying to explain a way of land lording with centralized operations, funding, personnel, and purchasing.

If I am using a contractor I explain to the tenant (if I can not be present) that the contractors are professionals that enter dwellings on a daily basis to do their job, that's all they care about, and if there had ever been a problem with an employee like that I am sure they wouldn't be employed there.

Lots of potential upside when buying notes at a discount as explained and elsewhere in BP.

But I'd call and find verify the amount owed and explain that you would like to buy it and see if you can work the short sale.

Explain that you won't qualify for a few months but you will soon.

Here is the code from 4975 explaining prohibited transactions.

Also I have them sign a subcontractor agreement, W2 and explain the payment arrangement.

Hi--I don't want to hijack the thread but can someone point to a post or information that explains why doing a rent to own with the tenants is no longer compliant with the law (namely how does Dodd Frank preclude it)?

Barely a week later, I meet 'wife's mother (who flew in from the midwest) at door who explained her daughter's boyfriend needs to stop lying to people, that his real situation is they're not yet married and were living in a converted garage and he left the kids home alone while wife was also at work and police were called because one of the kids somehow was found alone wandering the streets and subsequently placed in foster care til she (mother's mother) came to LA area to file for being their legal guardian in the interim.That LA Child Services would not release the kids back to the parents, but agreed to place the kids with a relative if the relative owned or had a lease on an apartment within Los Angeles County, so he found my Signal Hill 2-bedroom apartment (in my 2-family house) for her since they could not use the converted garage as a safe home for daughter's mother to take over the 'lease' on.