(And yes, I know the phrase “man plans and god laughs” but this is just some rough approximation for a place to start thinking about this.)

In order to minimize the amount of time you'll spend hands on managing, I suggest finding a good cleaning crew and an on-call handy man or maintenance company.

But man o man the prices were a fraction of this back in the 70's , 80's.   9 or 10% mortgage on a $60,000 loan was nothing too devastating, even with the lower income at the time.  7% mortgage on 500,000 loan is brutal!   

All you need to do is list the name of the Trust on the LLC incorporating document and that is sufficient.

@Tyler Manning It was my understanding that you can assign a contract to another buyer, just not for profit.

“Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”Vectra Bank - ColoVeritexTexas HELOCWAFD BankOrigination fee 1% or $700.

Thanks man! 

If all your going to do is chase that 1 #, oh man, dude your so scr#wed! 

I just watched "A Man in Full" and the image of the bankers laughing at the mogul because they now own his knee...that's going to stay with me a while.

I was thinking of speaking with a LL attorney from the state to see what advice they may have for me.Is there anything that you incorporate into your lease whether that it is provisions for insurance/liability shifting?