In most of those cases, their broker took a high fee and the investor didn't end up with a great deal.Here are a couple of things that are a tipoff you are not working with a broker with your interests at heart (1) they want to pull your credit before having a conversation, or (2) they send you a long list of things you need to provide them before learning about you and your deal.The conversation should start with why you are interested in REI, then understanding your strategy to get there.

Living in the property for two years likely allowed you to claim the capital gains exclusion... up to $250K for singles or $500K if married.

This is an old thread that was revived with the recent reply, and re-reading it now, I want to correct a couple things. 

I have a couple markets that I am looking at and trying to compare in central Florida for a start, thank you for the insight I appreciate any help from you guys!

I'm in Florida (lower cost), and I picked up a duplex a couple years ago as an owner occupied unit.

I had a couple of people suggest to me to sell my appreciating Bay Area SFH so I could acquire more "doors" and theoretically "cash flow" more with OOS properties.

Most are performing well and a couple of them are in the middle of dealing with evictions. 

Lots of growth but cash flow is a little weak after the first couple years you buy properties.

Hi, I'm looking into potentially putting a couple of rental properties into an LLC, more from a liability standpoint than anything else.

It couldn't hurt to call a couple attorneys right away to see what they say in terms of cost and suggestions for dealing with this quickly.In terms of mitigating any legal issues with your tenant be sure you are documenting every conversation you have had with the HOA in terms of asking them to make the necessary repairs.