When the “guru” fails to disclose past bankruptcy’s, lawsuits, AG actions, and cease and desist orders filed against him or his companies 5.

We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?

I am not an expert in this area but I'm thinking I could possibly use my HELOC for the land and get a construction loan to build the home and once finished roll it into a conventional second home loan.

There are a lot of energy and resources that go into getting the snowball rolling, so that's what I invest in right now. 

My point here on this post is it is a tough road trying to live off cash flow alone but it can be done through grit and patience rolling on the roller coaster and rolling with the punches.

I thought I was so very smart by setting up all my rentals to roll over in the summer when they are the easiest to rent. 

@Mark C.You are going to create a tax and accounting nightmareYou will pay taxes in each state you own property (typically) aThus each LLC will need to file in that state then you roll up to you which just adds more expense to your tax returnsYou will end up spending thousands of dollars per year to get taxes done which will eat any cash flow from making it so complexKeep it simple

My living expenses were almost completely rolled into the business model and I lived among an ever changing group of guests who made life lively and entertaining.

Thanks  So I did put my CPA and attorney together to create this structure.Everything rolls up under my personal tax return and there is a schedule E for every property. 

I am rolling the dice.