We got in a little after the bottom and have subsequently enjoyed the appreciation of the past couple years.I literally didn't even know about TK before joining BP.

We also have a clause in the lease that allows us to raise the rent 3% every 6 months...which we do use once in a blue moon if we've had tax increases or HOA fees:"AUTOMATICALLY RENEWABLE TERM OF LEASE: At the Anniversary date, and subsequent Anniversary Dates, this Lease shall be automatically renewed on a month-to-month basis unless either party provides the other written notice, at least thirty (30) days prior to the Anniversary date, of their desire not to renew for another month.

I assisted my grandfather with his multiple single-family rentals, but they usually had long-term tenants and there wasn't much work involved or lessons to be learned.I have a new opportunity at hand that would involve me renting houses and then, subsequently, subletting each furnished bedroom on 3-month leases.

But for subsequent investment properties -- #s 2, 3, 4, 5, 6... -- you have to put more than 10% down.

I agree Buyer is entitled to any profit that may ultimately result from the subsequent resale of The Property. ________ 15.

Title and ClosingAt Seller’s expense, Buyer shall procure a title commitment for an ALTA title insurance policy in the amount of the purchase price with extended coverage by a title company licensed to operate in the State of Illinois, issued on or subsequent to the Date of Acceptance.

I agree with Joe Gore that, for one property, all the corporate stuff is really not necessary, especially if you don't really have any assets to protect, plus the fact that, if anything goes wrong, taking title personally and subsequently transfer to an S Corp. won't exactly hide ownership or protect you.

Let me know if you need help on your second or subsequent deals.

We subsequently refinanced the property to take advantage of more favorable interest rates and secured a friendly first tenant (a family member actually) to rent the unit as an initial placeholder.

Also, the less you put down on one deal, the quicker you can move on subsequent deals.2) If you put a fridge/washer/dryer/etc in the home, tell the tenant that you have (insert appliance) that you plan to put in the unit if they want to use it, or you can take (insert appliance) out if the tenant doesn't want it.