New Investor From Ohio

[Trent T.]

Hello everyone!

This is my first post ever on any forum. So here is the deal, I bought my grandfathers single family residential property in the Dayton Ohio area for $20,000 cash (3 bed / 1 bath 1000 sq-ft). I spent about $8,000 in updating the place to rent since nothing was updated since 1952. I have a good tenant who pays on time so far in the house. The house is in my name. My question is and its a broad one....where do I go from here in regards to a LLC and equity in the house for the next property? The house should appraise out at around $30,000-$35,000.

I have flipped one house back in 08-09. I bought the house with a partner for $6500 and put in about $5,000 which resulted in a sale to another investor for $25,000. I'm thinking of flipping some and renting when cash flow is there. Any help would be greatly appreciated!