They're minimally leveraged, if at all so they may actually make a couple of bucks a year, but they're buying on speculation. 

It's on the fringe in a C area in Milwaukee, I did a Airbnb conversion at a similar building and area and it performed WAY better than I expected. 

In California, forming an LLC usually costs a few hundred bucks, plus there's an annual fee, which varies but hopefully won't be more than $200.

I just wouldn't cover an unlicensed welder. the guy who you are covering for is the problem. or have him get insurance you can get one time policies. it just sounds complicated I'd pass on deals like this to make a few bucks not worth it 

Think of it from the PM's perspective: if you were them, would you deal with the significant headaches of a C or D area (non-paying tenants, trashed properties, crime, police calls, etc.) for a 10% cut of a single property (probably just a few hundred bucks a month) ...I wouldn't.To make matters worse, the property isn't appreciating (because it's in a low appreciation market, or even a depreciating market), and the tenant pool is primarily made up of people with bad credit, low/no income, and a history of property damage at the previous places they've rented.

With higher rates it's not the cash flow I had before but just wondering if 400 bucks a month is good (again all major cap ex will be redone). 

Honestly, I would check out Milwaukee, WI.

If you dont pay the big bucks for the skip the lines your waiting hour to hour and half and the rides simply are not worth it to me.. but hey I am grandpa ..

More bang for your buck at launch, no equity but it gets you started. you can roll the profits into a purchase at a later date. good luck

cost me 400 bucks including buying the water heater.