In addition to the one year of rental history noted above the bank will only count 75% of your collected rents.

Essentially, my plan is to learn, network, tighten up my credit, raise capital, and pull the trigger within the next year (my original plan was within 9 months, but that would mean purchasing in December...I'm afraid it will be more difficult to flip a house in this area during the winter and I want to minimize holding cost as much as practical...thoughts on that are appreciated).That said, I'm a clean slate ready to absorb all the knowledge and wisdom from others in the BP community.

Standard of Practice 15-1REALTORS® shall not knowingly or recklessly file false or unfounded ethics complaints.

Apologies folks: here is the updated link to my Lease purchase collection of articles book: https://www.dropbox.com/s/dceipdxh4wd145w/%231%20N...

Now, I am considering using my servicer, FCI, to pursue collection on the note because I am not sure what I can do to get any closer to a deal.Please correct me if I am wrong in assuming I am out of options!  

Books, podcasts, and forums are great, but are not and will never be a proper substitute for practical experience.

Schlage rekey kitThe first go round it can be a bit tricky, but after a little practice I can do a lockset (handle and deadbolt) in less then 10 minutes. 

Is this normal practice?  

You are taxable at the time the money is collected ... but only to the extent the income exceeds the expenses.

The seller does not have to do anything but collect the check and send it off to their mortgage company.