Actually, @Chris Norwood - I wonder about the revenue opportunity for one of those kiosks . . .

You essentially need to do a simple business case analysis before you move forward with any condo purchase that would be short term owner occupant, and long term rental.

Retain a title company to search properties is essential; knowing you are entering into an areana that is most often attended by experienced "tax sale" buyers you need to make sure your not caught up in the "bidding" process.

Just bear in mind your Realtor fee is going to eat 6% of the final sale price.Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $386.51 Taxes $108.33 Sewer and Water $- tenantTrash $- tenantHeat/Utilities $- tenantHOA $145.00 Cap Ex and Ops $150.00 (this could be argued that it will be less, maybe $100/month because it is a condo)Insurance $75.00 (i made this up)Mgmt Fee $95.00 Vacancy $76.00 Total Expenses $1,035.84Total Revenue $950.00 Cashflow/month $(85.84)Cash on Cash Return-4.38% 

Right now I'm working with a very knowledgable RE lawyer but their a newbie when it comes to wholesale and contract assignment so we've been essentially "learning" together.I'd also love to get contact info for attorneys that knows about structuring sub2 and seller financing contracts.

We had our monthly Hunting Club call yesterday; don't know if you were one of people from KY listening in.If you have done other types of real estate deals, you'll soon discover that, essentially, probate is a title-related matter. 

He isn't just a coach (though I imagine that a big part of his revenue stream) and he didn't stop investing just to coach.4.  

What others think is not important unless that other is your accountant.Here, any expenditures made to get the property rent-ready are capitalized - essentially part of the acquisition.  

If you suspect that the owner has been lazy about getting rid of the tenant, you could be aggressive and lower your offer price to account for the month of revenue you'll be out having to wait.  

Essentially, there is nothing about a house that will make us not take it, minus oil leaking tank!