Some beginner questions for St. Paul MN area

[Bobby Esposito]

Hello!

I have been playing around with the idea of owning real-estate for quite some time now. I have a unique job where I officiate high level of junior hockey and live in housing supplied by the league. This is where I saw the opportunity. The league has a lease ending in St.Paul this year and is looking to get out. I have spoke to the commissioner and he loves the idea of me purchasing a place and leasing it to the league, had mentioned he would entertain a 2-3 year lease. They currently pay $1785 per month so I plan to charge around that much. I am looking at places in the range of 125k-150k and would love some recommendations for areas to look at. I also have a few questions that I have been thinking of. (looking for a 3 bedroom).

- When should I obtain an LLC, now? If so can I get it from a state other than MN or would it be smarter to just get one for MN?

- What can I expect to pay for insurance per year on the house?

-  I plan to have tenants take care of all utilities, is that hard to set up?

- If I wanted to purchase the house in June, giving me 2 months to get it ready for the season (sep 1) when should I start sending offers?

I would love any and all feedback!