New in FL Panhandle

[Scott V.]

I'm actually "new" since I've lived here less than a year now, not counting a previous Navy tour long ago :)  

I've only owned one previous rehab to rental which went well.  It was a room at a time, but in the end every room was entirely gutted.  I'm to old for that now and also won't have two Navy roommates paying a third of my mortgage all while helping with all the work :(

With 401k and other things all at the max where I get any kind of match it's time for me to finally get back to what I always wanted to do and start accumulating some rental properties. I think my goals are modest and hoping to get to a monthly positive net of $1,500 with seven years to get there. What brought me HERE though is trying to figure out how best to involve a couple of our kids and a cousin who want to be involved, so we'll need an LLC or other options, on top of the added insurance issues. I found out quickly when moving here that even as the owner finding insurance was a MESS compared to all other States I've owned a home in, yuck!

I'll also still be looking for a multi-family here and there outside of the LLC though, at least until I hit the ceiling on having four mortgages. Anything purchased by the LLC will be cash purchases from the pooled money, at least until there is enough income to justify any borrowing in the LLC name.

Very vague info, I know, but happy I found this site and I've already stayed busy giving the search a workout  :)