Sometimes, unseen issues (like major repairs) end up costing more than the discount you negotiated.Final Thoughts•If there are no major rental restrictions, and the numbers work based on rental comps, this could be a great first investment.

Purchase price: $68,000 Cash invested: $70,000 Sale price: $195,000 I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays.

I will only use my personal bank account for the property until the business bank account is setup.I assume this avoid the issue you are mentioning here? 

Hey @Rio Nance you’re casting a pretty wide net with your question, since it's not specific to an area or city, but I’ll share based on what I'm seeing.

Hi Joshua,It really depends on your situation and your specific needs/wants.

excess funds do not get issued until after redemption period. 

Nore the rent control bullet is CA specific and I do not know how ADUs affect rent control in other jurisdictions. 

You should consult an attorney or CPA for your specific situation.An LLC is useful for two things: anonymity and legal protection.

Quote from @Marc Zak: Anyone have experience on the issue of getting insurance on a property held in an LLC?

Let them know that you like the property and the area, but there are some issues that need to be taken care of.